Zenas BioPharma, Inc. (NASDAQ:ZBIO) Stock Has Average Target Price of $46.71 According to Analysts

Zenas BioPharma, Inc. (NASDAQ:ZBIO) has earned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $46.71.

ZBIO has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and set a $44.00 target price on shares of Zenas BioPharma in a report on Tuesday, October 13th. Weiss Ratings lowered shares of Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, November 4th. Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, October 28th. Wedbush reiterated an “outperform” rating and set a $45.00 price objective on shares of Zenas BioPharma in a research note on Wednesday, September 30th. Finally, Morgan Stanley began coverage on Zenas BioPharma in a report on Tuesday, October 20th. They issued an “equal weight” rating and a $32.00 price objective for the company.

Zenas BioPharma Stock Down 3.7%

NASDAQ:ZBIO opened at $27.64 on Friday. Zenas BioPharma has a fifty-two week low of $13.50 and a fifty-two week high of $44.60. The stock has a market capitalization of $1.87 billion, a P/E ratio of -2.93 and a beta of -0.88. The company has a debt-to-equity ratio of 1.88, a quick ratio of 9.93 and a current ratio of 9.42. The company’s 50-day simple moving average is $28.68 and its 200-day simple moving average is $25.31.

Zenas BioPharma (NASDAQ:ZBIO) last announced its earnings results on Thursday, November 5th. The company reported ($1.65) earnings per share for the quarter, missing the consensus estimate of ($1.24) by ($0.41). The company had revenue of $10.00 million during the quarter, compared to analysts’ expectations of $10.00 million. On average, equities analysts anticipate that Zenas BioPharma will post -6.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zenas BioPharma

A number of hedge funds have recently bought and sold shares of ZBIO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Zenas BioPharma by 143.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 37,790 shares of the company’s stock worth $959,000 after buying an additional 22,267 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Zenas BioPharma in the second quarter valued at approximately $5,306,000. Bank of America Corp DE lifted its position in shares of Zenas BioPharma by 723.5% in the first quarter. Bank of America Corp DE now owns 388,347 shares of the company’s stock valued at $7,592,000 after acquiring an additional 341,187 shares in the last quarter. J. Goldman & Co LP purchased a new position in shares of Zenas BioPharma in the second quarter valued at approximately $1,732,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Zenas BioPharma in the second quarter worth approximately $1,789,000.

About Zenas BioPharma

Zenas BioPharma is a clinical-stage biopharmaceutical company focused on developing treatments for autoimmune diseases. Founded in 2019 and based in Waltham, Massachusetts, the company describes itself as a global biopharmaceutical business. Its lead investigational medicine, obexelimab, is a bifunctional antibody designed to bind CD19 and FcγRIIb and inhibit B-cell activity. Zenas is developing the drug for autoimmune conditions, including IgG4-related disease; it has not been approved for commercial use.