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Zenas BioPharma, Inc.
(NASDAQ:ZBIO)
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Rating:44Neutral
Price Target:
$27.00
▼(-14.69% Downside)
Action:Reiterated
Date:10/13/26
The score is held down primarily by very weak financial performance (minimal revenue, large losses, and substantial cash burn) and bearish technicals (below key moving averages with negative MACD). Offsetting factors include a constructive clinical-data corporate update, while valuation is not meaningfully supportive given the negative P/E and no dividend.
Positive Factors
Promising Phase 3 Clinical Data
The Phase 3 findings strengthen obexelimab’s clinical profile by combining durable flare control with lower cumulative steroid toxicity and supportive safety observations. If sustained through development, this could improve differentiation, support regulatory progress, and enhance the candidate’s commercial potential in autoimmune disease.
Negative Factors
Minimal Revenue and Deep Losses
The very large gap between current revenue and expenses shows that Zenas remains heavily dependent on successful clinical development before it can become commercially self-sustaining. Deep losses also reduce resilience, making future profitability highly dependent on advancing products and eventual market adoption.
Read all positive and negative factors
Positive Factors
Negative Factors
Promising Phase 3 Clinical Data
The Phase 3 findings strengthen obexelimab’s clinical profile by combining durable flare control with lower cumulative steroid toxicity and supportive safety observations. If sustained through development, this could improve differentiation, support regulatory progress, and enhance the candidate’s commercial potential in autoimmune disease.
Read all positive factors
Zenas BioPharma, Inc. (ZBIO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.75B
Dividend YieldN/A
Average Volume (3M)683.27K
Price to Earnings (P/E)―
Beta (1Y)0.40
Revenue Growth-93.33%
EPS Growth-127.13%
CountryUS
Employees167
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-9.62
Shares Outstanding65,176,720
10 Day Avg. Volume519,394
30 Day Avg. Volume683,269
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)6.71
Price to Sales (P/S)162.41
P/FCF Ratio-9.42
Enterprise Value/Market Cap0.77
Enterprise Value/Revenue1.35K
Enterprise Value/Gross Profit-22.57
Enterprise Value/Ebitda-2.95
Forecast
1Y Price Target
$44.80Price Target Upside41.55% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-5.63
Revenue Forecast (FY)$10.22M
Zenas BioPharma, Inc. Business Overview & Revenue Model
Company Description
Zenas BioPharma, Inc. functions as a clinical-stage biopharmaceutical firm, concentrating on the creation and market introduction of innovative, immunology-based treatments. The company's primary investigational therapy is obexelimab, a distinctiv...
Zenas BioPharma, Inc. Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
44
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.00M | 10.00M | 5.00M | 50.00M | 0.00 |
| Gross Profit | -59.73M | 10.00M | -134.14M | 50.00M | -61.69M |
| EBITDA | -457.28M | -370.43M | -156.42M | -27.03M | -75.12M |
| Net Income | -484.38M | -377.74M | -156.99M | -37.12M | -119.28M |
Balance Sheet | |||||
| Total Assets | 701.69M | 383.64M | 369.97M | 68.18M | 74.58M |
| Cash, Cash Equivalents and Short-Term Investments | 643.13M | 343.19M | 350.77M | 56.86M | 67.21M |
| Total Debt | 389.60M | 79.96M | 1.00M | 21.11M | 1.53M |
| Total Liabilities | 454.59M | 141.50M | 57.51M | 293.90M | 266.87M |
| Stockholders Equity | 247.10M | 242.14M | 312.46M | -225.72M | -192.29M |
Cash Flow | |||||
| Free Cash Flow | -225.97M | -172.35M | -119.81M | -30.55M | -67.85M |
| Operating Cash Flow | -225.97M | -172.33M | -119.67M | -30.53M | -65.65M |
| Investing Cash Flow | -309.41M | -251.89M | -30.55M | -17.00K | -2.20M |
| Financing Cash Flow | 689.00M | 215.28M | 412.96M | 20.12M | 59.39M |
Zenas BioPharma, Inc. Technical Analysis
Negative
31.65
Price Trends
29.76
Negative
28.12
Negative
24.73
Positive
Market Momentum
-0.71
Negative
45.70
Neutral
63.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZBIO, the sentiment is Negative. The current price of 31.65 is above the 20-day moving average (MA) of 26.93, above the 50-day MA of 29.76, and above the 200-day MA of 24.73, indicating a neutral trend. The MACD of -0.71 indicates Negative momentum. The RSI at 45.70 is Neutral, neither overbought nor oversold. The STOCH value of 63.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ZBIO.
Zenas BioPharma, Inc. Risk Analysis
Zenas BioPharma, Inc. disclosed 86 risk factors in its most recent earnings report. Zenas BioPharma, Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Zenas BioPharma, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $832.04M | 5.31 | 90.98% | ― | 1078.78% | ― | |
54 Neutral | $372.89M | -5.07 | -62.99% | ― | ― | 23.34% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $1.69B | -17.42 | 81.78% | ― | 100.27% | 39.90% | |
50 Neutral | $464.37M | -4.48 | 25.70% | ― | 110.16% | 73.04% | |
49 Neutral | $495.02M | -2.58 | -152.15% | ― | -21.91% | -134.63% | |
44 Neutral | $1.75B | -2.79 | -189.68% | ― | -93.33% | -127.13% |
* Healthcare Sector Average
ZBIO
Zenas BioPharma, Inc.
26.87
-4.93
-15.50%
ABUS
Arbutus Biopharma
4.20
-0.27
-6.04%
RZLT
Rezolute
3.86
-5.59
-59.21%
URGN
Urogen Pharma
34.49
13.64
65.42%
PHAT
Phathom Pharmaceuticals
5.74
-8.07
-58.44%
VALN
Valneva
5.26
-4.00
-43.20%
Zenas BioPharma, Inc. Corporate Events
Business Operations and StrategyProduct-Related Announcements
Zenas BioPharma Highlights New Phase 3 Obexelimab Data
Positive
Oct 13, 2026
On October 12, 2026, Zenas BioPharma reported new Phase 3 data for its lead candidate obexelimab in immunoglobulin G4-related disease, based on presentations at the 6th International Symposium on IgG4-Related Disease held October 8–10 in Cam...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.