Citi analyst Yigal Nochomovitz has maintained their bullish stance on ZBIO stock, giving a Buy rating on October 28.
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Yigal Nochomovitz has given his Buy rating due to a combination of factors including the promising outlook for Zenas BioPharma’s ongoing clinical trials and financial position. The company is on track with its programs, particularly the Phase 3 INDIGO trial for IgG4-RD, which is expected to deliver significant results by the end of 2025. The management’s goal is to achieve a treatment flare rate significantly lower than the placebo, which would position Zenas BioPharma favorably in comparison to existing treatments.
Additionally, the positive data from the Phase 2 MoonStone trial is expected to continue its favorable trend, potentially leading to pivotal Phase 3 trials. Financially, Zenas BioPharma is well-positioned with substantial cash reserves and potential milestone payments that could extend its financial runway. These factors, combined with the company’s strategic development of late-stage clinical assets, contribute to the optimistic outlook and the Buy rating.
In another report released on October 28, Morgan Stanley also maintained a Buy rating on the stock with a $34.00 price target.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ZBIO in relation to earlier this year.