Wedbush Reaffirms “Outperform” Rating for Zenas Biopharma (NASDAQ:ZBIO)

Zenas Biopharma (NASDAQ:ZBIO)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a research note issued to investors on Thursday,RTT News reports. They currently have a $35.00 target price on the stock. Wedbush’s price objective points to a potential upside of 234.29% from the company’s current price. Wedbush also issued estimates for Zenas Biopharma’s FY2027 earnings at ($3.71) EPS.

Separately, Guggenheim reiterated a “buy” rating and set a $45.00 price target on shares of Zenas Biopharma in a report on Wednesday, March 12th.

Zenas Biopharma Stock Up 7.5%

Shares of ZBIO opened at $10.47 on Thursday. The company has a market cap of $438.00 million and a P/E ratio of -2.95. Zenas Biopharma has a one year low of $5.83 and a one year high of $26.25. The stock has a fifty day moving average price of $8.92.

Zenas Biopharma (NASDAQ:ZBIO) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.15) by $0.35. The business had revenue of $10.00 million during the quarter, compared to analyst estimates of $5.00 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZBIO. Jefferies Financial Group Inc. acquired a new stake in Zenas Biopharma during the first quarter worth about $348,000. Nuveen LLC bought a new stake in shares of Zenas Biopharma in the 1st quarter worth approximately $250,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Zenas Biopharma during the 1st quarter worth approximately $49,000.

About Zenas Biopharma

Zenas BioPharma, Inc is a clinical-stage global biopharmaceutical company. The firm is mainly engaged in the development and commercialization of transformative immunology-based therapies for patients. The company was founded by Lonnie O. Moulder Jr on November 12, 2019 and is headquartered in Waltham, MA.