Zenas BioPharma (NASDAQ:ZBIO) Stock Rating Reaffirmed as Buy by HC Wainwright

Zenas BioPharma (NASDAQ:ZBIO)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report released on Tuesday, Benzinga reports. They currently have a $44.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 72.58% from the company’s current price.

ZBIO has been the subject of several other research reports. Citigroup lifted their price objective on shares of Zenas BioPharma from $41.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, September 30th. Wedbush reaffirmed an “outperform” rating and set a $45.00 target price on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Morgan Stanley increased their price target on Zenas BioPharma from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. Guggenheim reissued a “buy” rating and issued a $55.00 price target on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Zenas BioPharma in a research note on Tuesday, October 6th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Zenas BioPharma presently has an average rating of “Moderate Buy” and a consensus price target of $46.71.

Zenas BioPharma Stock Up 2.6%

ZBIO traded up $0.64 during trading on Tuesday, reaching $25.50. 250,574 shares of the stock traded hands, compared to its average volume of 809,379. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -2.84 and a beta of -0.90. Zenas BioPharma has a fifty-two week low of $13.50 and a fifty-two week high of $44.60. The company has a debt-to-equity ratio of 1.57, a current ratio of 9.93 and a quick ratio of 9.93. The stock’s 50-day simple moving average is $30.45 and its two-hundred day simple moving average is $25.41.

Zenas BioPharma (NASDAQ:ZBIO) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.77) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.65). The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $15.00 million. As a group, equities research analysts expect that Zenas BioPharma will post -5.81 EPS for the current year.

Hedge Funds Weigh In On Zenas BioPharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP acquired a new stake in shares of Zenas BioPharma during the 2nd quarter worth approximately $329,000. Squarepoint Ops LLC raised its position in Zenas BioPharma by 192.0% in the 2nd quarter. Squarepoint Ops LLC now owns 125,185 shares of the company’s stock valued at $3,177,000 after purchasing an additional 82,311 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Zenas BioPharma by 143.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 37,790 shares of the company’s stock worth $959,000 after acquiring an additional 22,267 shares during the last quarter. Wellington Management Group LLP increased its position in Zenas BioPharma by 27.9% in the second quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company’s stock worth $40,451,000 after purchasing an additional 347,766 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of Zenas BioPharma in the 2nd quarter worth $31,247,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for patients with serious autoimmune diseases. The company’s research is centered on medicines designed to modulate the immune system while potentially avoiding the broad immune-cell depletion associated with some existing treatments.

Zenas’ lead product candidate is obexelimab, an investigational monoclonal antibody designed to bind CD19 and FcγRIIb receptors on B cells. Through this mechanism, obexelimab is intended to inhibit B-cell activity without eliminating the cells.