Wedbush upgrades Zentalis to Neutral on valuation post selloff

AS previously reported, Wedbush upgraded Zentalis to Neutral from Underperform with a $4 price target as shares have traded down significantly since the company reported its WEE1 inhibitor azenosertib was placed on partial clinical hold by the FDA on June 18th. The company continues to work towards resolution of the hold, and will present a number of clinical updates in the second half of 2024, including topline data from Cohort 1b of the Phase 2 DENALI study of azeno in platinum-resistant ovarian cancer, which Wedbush believes could provide significant insight into the path forward for azeno in this setting should the hold be resolved.