Zentalis Pharmaceuticals (NASDAQ:ZNTL) PT Lowered to $55.00 at Morgan Stanley

Zentalis Pharmaceuticals (NASDAQ:ZNTLGet Rating) had its price objective reduced by equities research analysts at Morgan Stanley from $60.00 to $55.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 152.76% from the stock’s previous close.

Several other research firms have also issued reports on ZNTL. SVB Leerink reduced their price target on shares of Zentalis Pharmaceuticals from $42.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday. HC Wainwright dropped their price objective on shares of Zentalis Pharmaceuticals from $120.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. Finally, Oppenheimer dropped their price objective on shares of Zentalis Pharmaceuticals from $80.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $50.88.

Zentalis Pharmaceuticals Trading Up 7.5 %

NASDAQ ZNTL opened at $21.76 on Friday. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -4.61 and a beta of 1.90. The firm’s 50 day simple moving average is $23.47 and its 200 day simple moving average is $25.33. Zentalis Pharmaceuticals has a 1 year low of $17.33 and a 1 year high of $85.95.

Insider Activity

In other news, President Cam Gallagher sold 12,500 shares of the firm’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $23.67, for a total transaction of $295,875.00. Following the completion of the transaction, the president now owns 396,885 shares of the company’s stock, valued at $9,394,267.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 50,000 shares of company stock valued at $1,184,500. Insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On Zentalis Pharmaceuticals

Several large investors have recently modified their holdings of ZNTL. Matrix Capital Management Company LP increased its position in shares of Zentalis Pharmaceuticals by 111.5% during the second quarter. Matrix Capital Management Company LP now owns 9,199,973 shares of the company’s stock worth $258,519,000 after buying an additional 4,850,694 shares during the period. Decheng Capital Management III Cayman LLC acquired a new stake in Zentalis Pharmaceuticals in the second quarter worth $51,271,000. State Street Corp grew its holdings in Zentalis Pharmaceuticals by 50.0% in the second quarter. State Street Corp now owns 3,119,734 shares of the company’s stock worth $87,665,000 after purchasing an additional 1,039,294 shares during the period. FMR LLC grew its holdings in Zentalis Pharmaceuticals by 15.3% in the second quarter. FMR LLC now owns 7,776,168 shares of the company’s stock worth $218,510,000 after purchasing an additional 1,033,474 shares during the period. Finally, Sofinnova Investments Inc. grew its holdings in Zentalis Pharmaceuticals by 77.6% in the third quarter. Sofinnova Investments Inc. now owns 583,357 shares of the company’s stock worth $12,636,000 after purchasing an additional 254,960 shares during the period.

About Zentalis Pharmaceuticals

(Get Rating)

Zentalis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule therapeutics for the treatment of various cancers. Its lead product candidate includes the ZN-c3, an inhibitor of WEE1, a protein tyrosine kinase, which is in Phase 2 clinical trial for the treatment of advanced solid tumors; Phase 1/2 clinical trial for the treatment of advanced solid tumors as a monotherapy and in an ongoing Phase 1b clinical trial in combination with chemotherapy in patients with platinum resistant ovarian cancer; and Phase 2 monotherapy trial for a tumor agnostic, predictive biomarker.

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Analyst Recommendations for Zentalis Pharmaceuticals (NASDAQ:ZNTL)

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