In a report released on May 16, Andrew Berens from Leerink Partners reiterated a Hold rating on Zentalis Pharmaceuticals (ZNTL – Research Report), with a price target of $5.00.
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Andrew Berens has given his Hold rating due to a combination of factors surrounding Zentalis Pharmaceuticals’ current strategic focus and financial outlook. The company is concentrating its efforts on the development of azenosertib for patients with Cyclin E1+ platinum-resistant ovarian cancer, with the DENALI clinical trial being a key component of this strategy. While the potential for accelerated approval of azenosertib exists, the timeline for significant milestones stretches into the future, with topline data expected by the end of 2026 and possible approval in 2027.
Additionally, the lack of emphasis on other programs, such as the TETON trial in uterine serous carcinoma, suggests a narrowed focus, which might limit immediate growth prospects. The company’s financial position, with cash reserves expected to last until late 2027, supports its current plans but also indicates a need for careful resource management. These factors collectively contribute to a cautious outlook, justifying the Hold rating as the company navigates its developmental and financial pathways.
According to TipRanks, Berens is an analyst with an average return of -8.0% and a 35.38% success rate. Berens covers the Healthcare sector, focusing on stocks such as Arvinas Holding Company, AstraZeneca, and Incyte.
In another report released on May 15, Wells Fargo also maintained a Hold rating on the stock with a $6.00 price target.