Wedbush Reaffirms Neutral Rating for Zentalis Pharmaceuticals (NASDAQ:ZNTL)

Zentalis Pharmaceuticals (NASDAQ:ZNTL)‘s stock had its “neutral” rating reissued by Wedbush in a research note issued to investors on Thursday,Benzinga reports. They presently have a $4.00 price objective on the stock. Wedbush’s price objective would indicate a potential upside of 217.46% from the stock’s previous close.

Several other research firms have also weighed in on ZNTL. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Zentalis Pharmaceuticals in a report on Thursday. Wells Fargo & Company dropped their price objective on Zentalis Pharmaceuticals from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Finally, UBS Group decreased their target price on Zentalis Pharmaceuticals from $5.00 to $2.20 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.24.

Zentalis Pharmaceuticals Price Performance

Shares of Zentalis Pharmaceuticals stock opened at $1.26 on Thursday. The business has a fifty day simple moving average of $1.44 and a 200 day simple moving average of $2.33. The stock has a market cap of $90.66 million, a PE ratio of -0.51 and a beta of 1.81. Zentalis Pharmaceuticals has a 12 month low of $1.01 and a 12 month high of $13.00.

Zentalis Pharmaceuticals (NASDAQ:ZNTL) last posted its earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.67). Analysts expect that Zentalis Pharmaceuticals will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Scott Dunseth Myers bought 21,000 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were purchased at an average price of $1.40 per share, for a total transaction of $29,400.00. Following the purchase, the director now owns 281,192 shares of the company’s stock, valued at approximately $393,668.80. The trade was a 8.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Zentalis Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ZNTL. Millennium Management LLC boosted its stake in shares of Zentalis Pharmaceuticals by 220.6% during the 1st quarter. Millennium Management LLC now owns 3,069,514 shares of the company’s stock worth $4,881,000 after buying an additional 2,111,951 shares during the last quarter. Almitas Capital LLC grew its stake in Zentalis Pharmaceuticals by 5.2% in the first quarter. Almitas Capital LLC now owns 1,710,921 shares of the company’s stock valued at $2,720,000 after purchasing an additional 84,025 shares in the last quarter. Primecap Management Co. CA grew its stake in Zentalis Pharmaceuticals by 1.5% in the fourth quarter. Primecap Management Co. CA now owns 1,520,630 shares of the company’s stock valued at $4,608,000 after purchasing an additional 22,600 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Zentalis Pharmaceuticals by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,312,964 shares of the company’s stock worth $3,979,000 after purchasing an additional 20,864 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Zentalis Pharmaceuticals by 9.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,239,459 shares of the company’s stock worth $3,756,000 after purchasing an additional 110,882 shares in the last quarter.

About Zentalis Pharmaceuticals

Zentalis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule therapeutics for the treatment of various cancers. Its products candidatures include the ZN-c3, an inhibitor of WEE1, a protein tyrosine kinase for the treatment of inhibitor for advanced solid tumors and hematological malignancies; in Phase 2 clinical trial as a monotherapy for the treatment of uterine serous carcinoma indications; Phase 2 clinical trial in Cyclin E1 driven high-grade serous ovarian cancer, fallopian tube, or primary peritoneal cancer; Phase 1/2 clinical trial in combination with PARPi for platinum-resistant ovarian cancer; Phase 1b clinical trial in combination with chemotherapy in platinum-resistant ovarian, and peritoneal or fallopian tube cancer; Phase 1/2 clinical trial in combination with chemotherapy in relapsed or refractory osteosarcoma; Phase 1/2 clinical trial with encorafenib and cetuximab for mutant metastatic colorectal cancer; and Phase 1/2 clinical trial in combination with chemotherapy in pancreatic cancer.