Wedbush Weighs in on Zentalis Pharmaceuticals, Inc.’s Q3 2024 Earnings (NASDAQ:ZNTL)

Zentalis Pharmaceuticals, Inc. (NASDAQ:ZNTL) – Wedbush upped their Q3 2024 earnings estimates for shares of Zentalis Pharmaceuticals in a research report issued to clients and investors on Monday, August 12th. Wedbush analyst R. Driscoll now expects that the company will earn ($0.86) per share for the quarter, up from their prior forecast of ($0.87). Wedbush has a “Neutral” rating and a $4.00 price objective on the stock. The consensus estimate for Zentalis Pharmaceuticals’ current full-year earnings is ($2.72) per share. Wedbush also issued estimates for Zentalis Pharmaceuticals’ Q4 2024 earnings at ($0.87) EPS, FY2024 earnings at ($2.83) EPS, Q1 2025 earnings at ($0.91) EPS, Q2 2025 earnings at ($0.92) EPS, Q3 2025 earnings at ($0.73) EPS, Q4 2025 earnings at ($0.74) EPS, FY2025 earnings at ($3.25) EPS, FY2026 earnings at ($2.89) EPS, FY2027 earnings at ($2.19) EPS and FY2028 earnings at ($1.31) EPS.

Zentalis Pharmaceuticals (NASDAQ:ZNTL) last released its quarterly earnings data on Friday, August 9th. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.40). During the same period last year, the business earned ($1.85) EPS.

Other analysts have also recently issued reports about the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $8.00 target price (down from $38.00) on shares of Zentalis Pharmaceuticals in a research note on Tuesday, June 18th. Jefferies Financial Group reiterated a “hold” rating and set a $6.00 price target (down previously from $42.00) on shares of Zentalis Pharmaceuticals in a research note on Tuesday, June 18th. Oppenheimer reduced their target price 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, June 18th. Wells Fargo & Company cut Zentalis Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $29.00 to $9.00 in a report on Tuesday, June 18th. Finally, Stifel Nicolaus dropped their price objective on Zentalis Pharmaceuticals from $32.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.33.

Zentalis Pharmaceuticals Price Performance

Shares of ZNTL opened at $3.20 on Wednesday. Zentalis Pharmaceuticals has a 12-month low of $2.83 and a 12-month high of $27.79. The firm’s 50 day moving average is $4.72 and its 200-day moving average is $10.12. The stock has a market capitalization of $227.28 million, a P/E ratio of -0.96 and a beta of 1.70.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Decheng Capital LLC lifted its position in shares of Zentalis Pharmaceuticals by 46.2% during the 2nd quarter. Decheng Capital LLC now owns 3,070,442 shares of the company’s stock valued at $12,558,000 after buying an additional 970,859 shares during the last quarter. Squarepoint Ops LLC grew its position in Zentalis Pharmaceuticals by 543.8% during the 2nd quarter. Squarepoint Ops LLC now owns 148,755 shares of the company’s stock worth $608,000 after acquiring an additional 125,649 shares during the last quarter. Bank of Montreal Can bought a new position in Zentalis Pharmaceuticals during the 2nd quarter worth approximately $402,000. XTX Topco Ltd grew its position in Zentalis Pharmaceuticals by 1,581.9% during the 2nd quarter. XTX Topco Ltd now owns 178,465 shares of the company’s stock worth $730,000 after acquiring an additional 167,854 shares during the last quarter. Finally, Primecap Management Co. CA grew its position in Zentalis Pharmaceuticals by 5.8% during the 2nd quarter. Primecap Management Co. CA now owns 1,232,340 shares of the company’s stock worth $5,040,000 after acquiring an additional 67,730 shares during the last quarter.

Insider Buying and Selling

In other Zentalis Pharmaceuticals news, CFO Cam Gallagher sold 9,597 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $11.98, for a total value of $114,972.06. Following the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. 6.10% of the stock is currently owned by corporate insiders.

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.