Zentalis price target lowered to $10 from $20 at H.C. Wainwright

H.C. Wainwright analyst Andrew Fein lowered the firm’s price target on Zentalis (ZNTL) to $10 from $20 and keeps a Buy rating on the shares after the company hosted a corporate event to provide a developmental and regulatory update on its lead asset, azenosertib. Zentalis remains committed to developing azenosertib for cyclin E1-positive platinum-resistant ovarian cancer and the company plans to finalize dose confirmation discussions with the FDA in 2025, with topline data from the Denali Part 2 study expected by late 2026, the analyst noted. Following a strategic restructuring that includes a 40% workforce reduction, the event highlighted the progress of azenosertib across multiple programs, the analyst added.