Wedbush Downgrades Zentalis Pharmaceuticals (NASDAQ:ZNTL) to Underperform

Zentalis Pharmaceuticals (NASDAQ:ZNTLGet Free Report) was downgraded by investment analysts at Wedbush from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday, Briefing.com reports. They currently have a $4.00 target price on the stock, down from their prior target price of $15.00. Wedbush’s price objective suggests a potential downside of 33.33% from the stock’s previous close.

A number of other equities research analysts have also weighed in on ZNTL. Wells Fargo & Company lowered shares of Zentalis Pharmaceuticals from an “overweight” rating to an “equal weight” rating in a report on Tuesday. HC Wainwright decreased their price objective on shares of Zentalis Pharmaceuticals from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus reduced their target price on Zentalis Pharmaceuticals from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.83.

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Zentalis Pharmaceuticals Trading Down 28.5 %

NASDAQ ZNTL traded down $2.39 during trading hours on Tuesday, reaching $6.00. 7,938,402 shares of the company’s stock were exchanged, compared to its average volume of 811,351. The firm has a fifty day moving average of $11.77 and a 200-day moving average of $13.13. Zentalis Pharmaceuticals has a one year low of $5.91 and a one year high of $30.53. The stock has a market cap of $426.18 million, a PE ratio of -1.80 and a beta of 1.83.

Zentalis Pharmaceuticals (NASDAQ:ZNTLGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.77) by $0.91. The company had revenue of $40.56 million for the quarter, compared to analyst estimates of $35.00 million. During the same period last year, the company posted ($1.07) earnings per share. As a group, research analysts forecast that Zentalis Pharmaceuticals will post -2.72 EPS for the current year.

Insider Activity

In other Zentalis Pharmaceuticals news, insider Diana Hausman sold 3,356 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $12.62, for a total value of $42,352.72. Following the completion of the transaction, the insider now owns 373,876 shares of the company’s stock, valued at approximately $4,718,315.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Diana Hausman sold 3,356 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $12.62, for a total value of $42,352.72. Following the transaction, the insider now directly owns 373,876 shares of the company’s stock, valued at approximately $4,718,315.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Cam Gallagher sold 9,597 shares of Zentalis Pharmaceuticals stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $11.98, for a total value of $114,972.06. Following the completion of the transaction, the chief financial officer now owns 633,680 shares in the company, valued at $7,591,486.40. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. ProShare Advisors LLC increased its holdings in Zentalis Pharmaceuticals by 9.0% in the 1st quarter. ProShare Advisors LLC now owns 15,436 shares of the company’s stock valued at $243,000 after purchasing an additional 1,274 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Zentalis Pharmaceuticals by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,989 shares of the company’s stock valued at $91,000 after purchasing an additional 1,519 shares during the last quarter. Quest Partners LLC acquired a new position in Zentalis Pharmaceuticals during the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC lifted its holdings in Zentalis Pharmaceuticals by 252.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the company’s stock worth $55,000 after purchasing an additional 2,589 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Zentalis Pharmaceuticals by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 445,823 shares of the company’s stock valued at $6,754,000 after buying an additional 3,759 shares in the last quarter.

About Zentalis Pharmaceuticals

(Get Free Report)

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.

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Analyst Recommendations for Zentalis Pharmaceuticals (NASDAQ:ZNTL)

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