Wells Fargo Assumes Zentalis Pharmaceuticals (ZNTL) at Equal Weight

Wells Fargo analyst Eva Fortea Verdejo assumes coverage on Zentalis Pharmaceuticals (NASDAQ: ZNTL) with a Equal Weight rating and a price target of $5.00.

The analyst comments "We are transferring ZNTL at $5 PT. While we think the co's approach to PROC is largely de-risked in Cyclin E1+ pts, we worry about the safety profile. Additionally, we await for a reg update to better understand azenosertib's commercial potl. We like the co's biomarker strategy. The co is focusing azeno dev in Cyclin E1+ PROC, which we think makes sense based on the following: (1) WEE1 and Cyclin E1+ replication stress biology; (2) Ph1/2 data, including DENALI Part 1b, have shown numerically superior outcomes in this pt pop; (3) adavosertib (AZN's discont WEE1) data provides external validation for the approach. The strategy is compelling from a reg perspective, given precedent for biomarker-defined subsets in PROC."

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 $2.71 yesterday.

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