Zacks Investment Research Upgrades Zentalis Pharmaceuticals (NASDAQ:ZNTL) to Buy

Zentalis Pharmaceuticals (NASDAQ:ZNTLGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage presently has a $27.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 9.05% from the company’s previous close.

According to Zacks, “Zentalis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It is focused on discovering and developing small molecule therapeutics targeting cancers. The company’s lead programs consist of ZN-c5, an oral selective estrogen receptor degrader for estrogen-receptor-positive, HER2-negative breast cancer which is in clinical stage. It operates principally in New York and San Diego. Zentalis Pharmaceuticals, Inc. is based in NEW YORK. “

Other equities analysts have also issued reports about the company. Stifel Nicolaus reduced their target price on Zentalis Pharmaceuticals from $94.00 to $74.00 in a report on Monday, April 11th. Wells Fargo & Company started coverage on Zentalis Pharmaceuticals in a report on Wednesday, April 6th. They issued an “overweight” rating and a $67.00 target price for the company. SVB Leerink reduced their target price on Zentalis Pharmaceuticals from $78.00 to $67.00 and set an “outperform” rating for the company in a report on Tuesday, April 12th. Guggenheim reduced their price objective on Zentalis Pharmaceuticals from $92.00 to $67.00 in a report on Wednesday, April 13th. Finally, Wedbush reissued an “outperform” rating on shares of Zentalis Pharmaceuticals in a report on Friday, February 25th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $76.33.

ZNTL stock opened at $24.76 on Thursday. The firm has a market cap of $1.13 billion, a PE ratio of -6.81 and a beta of 2.28. The business has a 50 day moving average of $44.34 and a 200-day moving average of $62.59. Zentalis Pharmaceuticals has a 12-month low of $24.01 and a 12-month high of $87.19.

Zentalis Pharmaceuticals (NASDAQ:ZNTLGet Rating) last released its earnings results on Thursday, February 24th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.34) by $0.23. During the same period in the prior year, the business earned ($1.01) earnings per share. On average, equities research analysts anticipate that Zentalis Pharmaceuticals will post -5.03 earnings per share for the current year.

In other news, Director Cam Gallagher sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $50.48, for a total value of $504,800.00. Following the completion of the transaction, the director now directly owns 355,813 shares of the company’s stock, valued at $17,961,440.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Kevin D. Bunker sold 5,000 shares of the stock in a transaction on Monday, April 11th. The stock was sold at an average price of $30.55, for a total value of $152,750.00. Following the completion of the sale, the chief operating officer now owns 135,000 shares in the company, valued at approximately $4,124,250. The disclosure for this sale can be found here. Insiders sold 153,307 shares of company stock valued at $7,527,251 over the last ninety days. Corporate insiders own 21.00% of the company’s stock.

Several hedge funds have recently modified their holdings of ZNTL. BlackRock Inc. raised its position in shares of Zentalis Pharmaceuticals by 18.8% in the third quarter. BlackRock Inc. now owns 2,755,788 shares of the company’s stock worth $183,645,000 after buying an additional 435,672 shares in the last quarter. Perceptive Advisors LLC purchased a new stake in shares of Zentalis Pharmaceuticals in the fourth quarter worth $36,192,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Zentalis Pharmaceuticals in the fourth quarter worth $35,202,000. Fiera Capital Corp purchased a new stake in shares of Zentalis Pharmaceuticals in the fourth quarter worth $30,961,000. Finally, Matrix Capital Management Company LP raised its position in shares of Zentalis Pharmaceuticals by 6.1% in the third quarter. Matrix Capital Management Company LP now owns 4,349,279 shares of the company’s stock worth $289,836,000 after buying an additional 248,540 shares in the last quarter. Institutional investors own 94.61% of the company’s stock.

Zentalis Pharmaceuticals Company Profile (Get Rating)

Zentalis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule therapeutics for the treatment of various cancers. Its lead product candidate includes the ZN-c3, an inhibitor of WEE1, a protein tyrosine kinase, which is in Phase 2 clinical trial for the treatment of advanced solid tumors; Phase 1/2 clinical trial for the treatment of advanced solid tumors as a monotherapy and in an ongoing Phase 1b clinical trial in combination with chemotherapy in patients with platinum resistant ovarian cancer; and Phase 2 monotherapy trial for a tumor agnostic, predictive biomarker.

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