Guggenheim Reiterates Buy Rating for Zentalis Pharmaceuticals (NASDAQ:ZNTL)

Zentalis Pharmaceuticals (NASDAQ:ZNTL)‘s stock had its “buy” rating restated by Guggenheim in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $6.00 price target on the stock. Guggenheim’s price target would suggest a potential upside of 185.71% from the stock’s current price.

Separately, Wells Fargo & Company started coverage on shares of Zentalis Pharmaceuticals in a research report on Tuesday, March 17th. They issued an “equal weight” rating and a $5.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Zentalis Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $5.17.

Zentalis Pharmaceuticals Stock Performance

Shares of NASDAQ:ZNTL opened at $2.10 on Friday. The business’s 50-day simple moving average is $2.57 and its 200 day simple moving average is $1.94. The company has a market cap of $151.73 million, a P/E ratio of -1.11 and a beta of 1.71. Zentalis Pharmaceuticals has a one year low of $1.01 and a one year high of $3.95.

Zentalis Pharmaceuticals (NASDAQ:ZNTL) last released its quarterly earnings results on Thursday, March 26th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.08). Analysts predict that Zentalis Pharmaceuticals will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In other Zentalis Pharmaceuticals news, insider Vincent Vultaggio sold 29,951 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $2.43, for a total transaction of $72,780.93. Following the completion of the sale, the insider owned 156,779 shares in the company, valued at $380,972.97. The trade was a 16.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Group Walters bought 6,459,973 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $1.20 per share, for a total transaction of $7,751,967.60. Following the completion of the acquisition, the insider directly owned 13,509,973 shares of the company’s stock, valued at $16,211,967.60. This trade represents a 91.63% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 46,617 shares of company stock valued at $113,417. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zentalis Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. grew its holdings in shares of Zentalis Pharmaceuticals by 8.6% during the fourth quarter. Invesco Ltd. now owns 188,582 shares of the company’s stock valued at $255,000 after purchasing an additional 14,961 shares during the last quarter. XTX Topco Ltd raised its position in shares of Zentalis Pharmaceuticals by 5.1% during the 4th quarter. XTX Topco Ltd now owns 576,707 shares of the company’s stock worth $779,000 after purchasing an additional 28,078 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of Zentalis Pharmaceuticals by 126.8% in the 4th quarter. Quadrature Capital Ltd now owns 137,568 shares of the company’s stock worth $186,000 after purchasing an additional 76,917 shares during the last quarter. Opaleye Management Inc. boosted its position in Zentalis Pharmaceuticals by 342.6% during the 4th quarter. Opaleye Management Inc. now owns 1,400,906 shares of the company’s stock valued at $1,891,000 after purchasing an additional 1,084,356 shares during the period. Finally, Ishara Investments LP acquired a new position in Zentalis Pharmaceuticals during the 4th quarter valued at approximately $1,782,000.

About Zentalis Pharmaceuticals

Zentalis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapeutics for oncology. Leveraging a proprietary structure-based drug discovery platform, the company designs selective inhibitors aimed at critical cancer targets. Zentalis’ research and development efforts center on delivering differentiated therapies that address unmet medical needs in solid tumors and hematologic malignancies.

The company’s lead product candidate, ZN-c3, is an orally administered inhibitor of the p53-MDM2 interaction, currently being evaluated in Phase I clinical trials for advanced solid tumors and hematologic cancers.