Oppenheimer Reiterates Outperform Rating on Zentalis Pharmaceuticals (ZNTL)

Oppenheimer analyst Matt Biegler reiterated an Outperform rating and $20.00 price target on Zentalis Pharmaceuticals (NASDAQ: ZNTL).

The analyst comments "Monday, Zentalis announced resolution of azenosertib’s partial clinical hold. We were delighted that the resolution came "no strings attached" —i.e., no risk mitigation strategies, changes to the protocol, or eligibility were required. That, combined with the speed of the resolution (~3 months), suggests to us that the hold was simply a procedural requirement by the FDA. Regardless, we think the drug’s safety still compares nicely to other treatments for gynecological cancers including ADCs and chemotherapy. With the hold now behind it, Zentalis can focus all efforts on generating the data it needs to get azenosertib approved—and a fulsome update later this year is still on track. Reiterate Outperform."

For an analyst ratings summary and ratings history on Zentalis Pharmaceuticals click here. For more ratings news on Zentalis Pharmaceuticals click here.

Shares of Zentalis Pharmaceuticals closed at $3.24 yesterday.

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