Guggenheim Forecasts Strong Price Appreciation for Zentalis Pharmaceuticals (NASDAQ:ZNTL) Stock

Zentalis Pharmaceuticals (NASDAQ:ZNTL) had its price objective increased by research analysts at Guggenheim from $6.00 to $10.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 51.29% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zentalis Pharmaceuticals in a research note on Tuesday. Wells Fargo & Company initiated coverage on shares of Zentalis Pharmaceuticals in a research note on Tuesday, March 17th. They issued an “equal weight” rating and a $5.00 target price for the company. Finally, Wall Street Zen cut shares of Zentalis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.83.

Zentalis Pharmaceuticals Trading Up 49.5%

NASDAQ ZNTL opened at $6.61 on Friday. The stock’s 50 day moving average is $2.63 and its two-hundred day moving average is $2.06. The company has a market capitalization of $468.85 million, a price-to-earnings ratio of -3.48 and a beta of 1.65. Zentalis Pharmaceuticals has a 1-year low of $1.09 and a 1-year high of $6.95.

Zentalis Pharmaceuticals (NASDAQ:ZNTL) last released its quarterly earnings data 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). On average, analysts predict that Zentalis Pharmaceuticals will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Vincent Vultaggio sold 29,951 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $2.43, for a total value of $72,780.93. Following the completion of the transaction, the insider owned 156,779 shares in the company, valued at $380,972.97. The trade was a 16.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 46,617 shares of company stock valued at $113,417. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. 5AM Venture Management LLC raised its position in Zentalis Pharmaceuticals by 705.7% in the 4th quarter. 5AM Venture Management LLC now owns 3,947,913 shares of the company’s stock worth $5,330,000 after purchasing an additional 3,457,913 shares during the last quarter. Millennium Management LLC raised its position in Zentalis Pharmaceuticals by 220.6% in the 1st quarter. Millennium Management LLC now owns 3,069,514 shares of the company’s stock worth $4,881,000 after purchasing an additional 2,111,951 shares during the last quarter. Vanguard Group Inc. raised its position in Zentalis Pharmaceuticals by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,904,400 shares of the company’s stock worth $4,386,000 after purchasing an additional 19,768 shares during the last quarter. Renaissance Technologies LLC raised its position in Zentalis Pharmaceuticals by 24.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,883,745 shares of the company’s stock worth $3,893,000 after purchasing an additional 558,390 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Zentalis Pharmaceuticals by 117.1% in the 3rd quarter. Bank of America Corp DE now owns 1,548,781 shares of the company’s stock worth $2,339,000 after purchasing an additional 835,466 shares during the last quarter.

Zentalis Pharmaceuticals Company Profile

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.