Zentalis Pharmaceuticals’ (ZNTL) “Equal Weight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Zentalis Pharmaceuticals (NASDAQ:ZNTL) in a research note published on Tuesday morning, MarketBeat reports. They currently have a $8.00 price target on the stock, down from their previous price target of $38.00.

Other equities research analysts have also recently issued reports about the company. Wedbush downgraded Zentalis Pharmaceuticals from a neutral rating to an underperform rating and dropped their price objective for the company from $15.00 to $4.00 in a report on Tuesday. Oppenheimer reduced their price objective on shares of Zentalis Pharmaceuticals from $50.00 to $25.00 and set an outperform rating on the stock in a research note on Tuesday. Wells Fargo & Company downgraded shares of Zentalis Pharmaceuticals from an overweight rating to an equal weight rating and lowered their target price for the company from $29.00 to $9.00 in a research note on Tuesday. HC Wainwright decreased their price target on shares of Zentalis Pharmaceuticals from $40.00 to $20.00 and set a buy rating for the company in a report on Tuesday. Finally, Stifel Nicolaus dropped their price objective on Zentalis Pharmaceuticals from $32.00 to $10.00 and set a buy rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $12.13.

Zentalis Pharmaceuticals Stock Performance

NASDAQ ZNTL opened at $4.14 on Tuesday. The stock has a fifty day moving average of $11.77 and a 200-day moving average of $13.13. The stock has a market capitalization of $294.06 million, a P/E ratio of -1.30 and a beta of 1.83. Zentalis Pharmaceuticals has a 52 week low of $3.93 and a 52 week high of $30.53.

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

Insider Activity

In related news, CFO Cam Gallagher sold 9,597 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 633,680 shares in the company, valued at $7,591,486.40. The transaction was disclosed in a filing with the SEC, which can be accessed 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 transaction of $42,352.72. Following the completion of the transaction, the insider now owns 373,876 shares in the company, valued at $4,718,315.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Cam Gallagher sold 9,597 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $11.98, for a total transaction of $114,972.06. Following the completion of the transaction, 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. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Zentalis Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Opaleye Management Inc. bought a new position in shares of Zentalis Pharmaceuticals in the 1st quarter valued at about $3,152,000. Kennedy Capital Management LLC acquired a new stake in Zentalis Pharmaceuticals in the 1st quarter valued at about $189,000. Price T Rowe Associates Inc. MD grew its holdings in Zentalis Pharmaceuticals by 20.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,489,709 shares of the company’s stock worth $54,999,000 after purchasing an additional 585,644 shares during the period. ProShare Advisors LLC increased its position in Zentalis Pharmaceuticals by 9.0% during the first quarter. ProShare Advisors LLC now owns 15,436 shares of the company’s stock worth $243,000 after buying an additional 1,274 shares during the last quarter. Finally, 49 Wealth Management LLC bought a new stake in Zentalis Pharmaceuticals in the first quarter valued at approximately $172,000.

About Zentalis Pharmaceuticals

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.