Morgan Stanley Reaffirms “Equal Weight” Rating for Zentalis Pharmaceuticals (NASDAQ:ZNTL)

Morgan Stanley reaffirmed their equal weight rating on shares of Zentalis Pharmaceuticals (NASDAQ:ZNTL) in a research note released on Tuesday, MarketBeat reports. Morgan Stanley currently has a $8.00 price objective on the stock, down from their prior price objective of $38.00.

A number of other analysts also recently issued reports on the company. Oppenheimer decreased their target price on Zentalis Pharmaceuticals from $50.00 to $25.00 and set an outperform rating for the company in a research report on Tuesday. Wells Fargo & Company downgraded Zentalis Pharmaceuticals from an overweight rating to an equal weight rating and decreased their target price for the stock from $29.00 to $9.00 in a research report on Tuesday. Wedbush downgraded Zentalis Pharmaceuticals from a neutral rating to an underperform rating and decreased their target price for the stock from $15.00 to $4.00 in a research report on Tuesday. Stifel Nicolaus reduced their price target on Zentalis Pharmaceuticals from $32.00 to $10.00 and set a buy rating for the company in a research report on Tuesday. Finally, HC Wainwright reduced their price target on Zentalis Pharmaceuticals from $40.00 to $20.00 and set a buy rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $11.33.

Zentalis Pharmaceuticals Trading Up 26.8 %

Shares of Zentalis Pharmaceuticals stock opened at $5.25 on Tuesday. The business’s fifty day simple moving average is $11.32 and its 200 day simple moving average is $13.02. The firm has a market capitalization of $372.91 million, a P/E ratio of -1.59 and a beta of 1.83. Zentalis Pharmaceuticals has a 12 month low of $3.93 and a 12 month high of $30.53.

Zentalis Pharmaceuticals (NASDAQ:ZNTL) last released its earnings results on Tuesday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.91. The firm had revenue of $40.56 million during the quarter, compared to analysts’ expectations of $35.00 million. During the same period in the prior year, the business earned ($1.07) earnings per share. Analysts predict that Zentalis Pharmaceuticals will post -2.72 EPS for the current fiscal year.

Insider Activity at Zentalis Pharmaceuticals

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

Institutional Investors Weigh In On Zentalis Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in ZNTL. Quest Partners LLC bought a new stake in shares of Zentalis Pharmaceuticals in the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC lifted its stake in shares of Zentalis Pharmaceuticals by 252.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the company’s stock valued at $55,000 after acquiring an additional 2,589 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Zentalis Pharmaceuticals by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,989 shares of the company’s stock valued at $91,000 after acquiring an additional 1,519 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Zentalis Pharmaceuticals by 352.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,188 shares of the company’s stock valued at $124,000 after acquiring an additional 6,379 shares during the last quarter. Finally, OneAscent Financial Services LLC purchased a new position in Zentalis Pharmaceuticals during the 4th quarter valued at about $156,000.

Zentalis Pharmaceuticals Company Profile

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.