Passage Bio (NASDAQ:ZNTL) Lifted to “Buy” at Zacks Investment Research

Passage Bio (NASDAQ:ZNTL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday, Zacks.com reports. The brokerage currently has a $40.00 price target on the stock. Zacks Investment Research‘s price target indicates a potential upside of 2.38% from the company’s current price.

According to Zacks, “Zentalis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It is focused on discovering and developing small molecule therapeutics targeting cancers. The company’s lead programs consist of ZN-c5, an oral selective estrogen receptor degrader for estrogen-receptor-positive, HER2-negative breast cancer which is in clinical stage. It operates principally in New York and San Diego. Zentalis Pharmaceuticals, Inc. is based in NEW YORK. “

ZNTL has been the topic of a number of other research reports. Guggenheim started coverage on Passage Bio in a research note on Tuesday, April 28th. They set a “buy” rating and a $45.00 target price on the stock. Jefferies Financial Group began coverage on Passage Bio in a report on Tuesday, April 28th. They issued a “buy” rating and a $41.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and set a $45.00 price objective on shares of Passage Bio in a report on Tuesday, May 12th. Finally, SVB Leerink began coverage on Passage Bio in a research report on Tuesday, April 28th. They set an “outperform” rating and a $45.00 target price for the company. Five investment analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $43.20.

Shares of NASDAQ ZNTL traded down $0.97 during trading hours on Friday, reaching $39.07. 98,582 shares of the stock were exchanged, compared to its average volume of 196,758. Passage Bio has a 52 week low of $22.00 and a 52 week high of $48.61.

In related news, major shareholder Global Investors Lp Viking purchased 725,000 shares of the business’s stock in a transaction on Tuesday, April 7th. The stock was acquired at an average price of $24.80 per share, for a total transaction of $17,980,000.00.

About Passage Bio

Zentalis Pharmaceuticals, LLC, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule therapeutics targeting fundamental biological pathways of cancers in the United States. Its lead product candidate is the ZN-c5, an oral selective estrogen receptor degrader that is in a Phase I/II clinical trial for the treatment of breast cancer.

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