Zentalis Pharmaceuticals (NASDAQ:ZNTL) Raised to “Strong-Buy” at Jefferies Financial Group

Zentalis Pharmaceuticals (NASDAQ:ZNTL) was upgraded by Jefferies Financial Group from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.

Several other equities analysts have also issued reports on the company. Leerink Partners started coverage on Zentalis Pharmaceuticals in a research note on Monday, October 5th. They set an “outperform” rating and a $8.00 price target on the stock. Wells Fargo & Company assumed coverage on shares of Zentalis Pharmaceuticals in a research note on Wednesday, September 30th. They issued an “equal weight” rating and a $5.00 target price on the stock. Wall Street Zen cut shares of Zentalis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Mizuho initiated coverage on shares of Zentalis Pharmaceuticals in a research report on Friday, July 17th. They set an “outperform” rating and a $8.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Zentalis Pharmaceuticals in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Zentalis Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $7.50.

Zentalis Pharmaceuticals Stock Performance

ZNTL opened at $2.32 on Wednesday. The stock has a 50-day moving average of $3.40 and a 200-day moving average of $3.86. Zentalis Pharmaceuticals has a 52-week low of $1.21 and a 52-week high of $6.95. The company has a market cap of $166.27 million, a PE ratio of -1.19 and a beta of 1.93.

Zentalis Pharmaceuticals (NASDAQ:ZNTL) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.10). On average, research analysts predict that Zentalis Pharmaceuticals will post -2.11 earnings per share for the current year.

Insider Activity

In other Zentalis Pharmaceuticals news, major shareholder Group Walters bought 4,335,000 shares of Zentalis Pharmaceuticals stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $3.50 per share, with a total value of $15,172,500.00. Following the acquisition, the insider owned 17,844,973 shares in the company, valued at $62,457,405.50. This trade represents a 32.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. CTC Alternative Strategies Ltd. bought a new stake in Zentalis Pharmaceuticals in the first quarter worth approximately $29,000. Spark Investment Management LLC bought a new position in Zentalis Pharmaceuticals during the second quarter worth $61,000. The Manufacturers Life Insurance Company bought a new position in Zentalis Pharmaceuticals during the second quarter worth $69,000. State of Wyoming acquired a new stake in Zentalis Pharmaceuticals in the second quarter worth $91,000. Finally, Sei Investments Co. increased its stake in Zentalis Pharmaceuticals by 14.6% in the first quarter. Sei Investments Co. now owns 191,551 shares of the company’s stock valued at $448,000 after purchasing an additional 24,451 shares in the last quarter.

About Zentalis Pharmaceuticals

Zentalis Pharmaceuticals, Inc (NASDAQ: ZNTL) is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for the treatment of cancer. The company’s research programs are designed to target biological pathways involved in tumor growth, survival and resistance to existing therapies.

Zentalis’ lead investigational product is azenosertib, also known as ZN-c3, an oral WEE1 inhibitor being evaluated in clinical trials for several advanced cancers.