Should I Buy ZBIO? ZBIO 2026 Analysis

Should You Buy Zenas Biopharma Inc (ZBIO) Today? Analysis, Price Targets, and 2026 Outlook.

Conclusion

Hold

Latest Price

20.070

1 Day change

3.88%

52 Week Range

44.600

Analysis Updated At

2026/01/26

Zenas BioPharma Inc (ZBIO) is not a strong buy at this moment for a beginner investor with a long-term focus. The stock has faced significant challenges, including disappointing trial results, negative sentiment from analysts, and ongoing legal investigations. While there is potential for recovery, the current risks outweigh the rewards, and the stock is better suited for monitoring rather than immediate investment.

Technical Analysis

The MACD is positive and expanding, indicating a potential upward momentum, but the RSI is neutral at 41.146, suggesting no clear trend. The stock is trading near its pivot level of 19.535, with key resistance at 22.094 and support at 16.977. Overall, the technical indicators do not strongly favor a buy at this time.

Options Data

Bearish

Open Interest Put-Call Ratio

Bullish

Option Volume Put-Call Ratio

Moving Average Consensus

Sell

Buy

Positive Catalysts

2026/01/26 07:26:32

The company achieved positive Phase 3 INDIGO trial results, meeting its primary endpoint. Analysts have slightly increased the odds of success for obexelimab in IgG4-RD to 80%.

Neutral/Negative Catalysts

2026/01/26 07:26:32

The trial results fell short of competitor benchmarks, leading to a significant stock price drop. Analysts have downgraded the stock and reduced price targets. Additionally, there is an ongoing investigation into potential securities fraud, which adds legal and reputational risks.

Financial Performance

In Q3 2025, the company reported no revenue and a net loss of $51.5 million, though the loss improved by 33.4% YoY. EPS also improved to -1.22, up 32.61% YoY. While the gross margin remains at 100%, the lack of revenue and consistent losses indicate financial instability.

Growth

Profitability

Efficiency

Analyst Ratings and Price Target Trends

Analysts are mixed but leaning negative. Citi maintains a Buy rating with a reduced price target of $43, while Morgan Stanley downgraded the stock to Equal Weight with a price target of $19. The stock's recent performance has fallen below even the most bearish case scenarios, reflecting reduced confidence in its commercial potential.

5 Analyst Rating

Wall Street analysts forecast ZBIO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ZBIO is 41.2 USD with a low forecast of 19 USD and a high forecast of 55 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

4 Buy

1 Hold

0 Sell

Strong Buy

Current: 19.320

Low

Averages

41.2

High

Current: 19.320

Low

Averages

41.2

High

Citi

Buy

downgrade

$46 -> $43

AI Analysis

2026-01-05

Reason

Citi

Price Target

$46 -> $43

AI Analysis

2026-01-05

downgrade

Buy

Reason

Citi lowered the firm's price target on Zenas BioPharma to $43 from $46 and keeps a Buy rating on the shares after the company announced Phase 3 INDIGO results for obexelimab in IgG4-RD. A weaker hazard ratio than Uplizna's has resulted in a selloff to levels below the firm's "ultra-bear case" of $18 per share, which implies zero contribution for obex in IgG4-RD, the analyst says. The firm remains confident obexelimab will be approved and recommends investors seeking discounted opportunities at the outset of 2026 buy the stock, noting that its revised target reflects model adjustments based on increasing its view of the odds of success for obex in IgG4-RD to 80% from 60%, offset by slightly lower peak share estimates.

Morgan Stanley

Overweight -> Equal Weight

downgrade

$37 -> $19

2026-01-05

Reason

Morgan Stanley

Price Target

$37 -> $19

2026-01-05

downgrade

Overweight -> Equal Weight

Reason

Morgan Stanley downgraded Zenas BioPharma to Equal Weight from Overweight with a price target of $19, down from $37, after the company announced top-line results from the Phase 3 INDIGO study evaluating obexelimab in IgG4-RD. While INDIGO met its primary endpoint, demonstrating a 56% reduction in the risk of IgG4-RD flare vs. placebo, the results fell short of the benchmark set by Uplizna, which demonstrated an 87% reduction in IgG4-RD flare risk versus placebo, the analyst tells investors. Obexelimab likely has a place in IgG4-RD based on the trial results, but peak share may be lower than previously anticipated, the analyst added.

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ZBIO Should I Buy

ZBIO Should I Buy

Should You Buy Zenas Biopharma Inc (ZBIO) Today? Analysis, Price Targets, and 2026 Outlook.

Technical Analysis

Options Data

Moving Average Consensus

Positive Catalysts

Neutral/Negative Catalysts

Financial Performance

Growth

Profitability

Efficiency

Analyst Ratings and Price Target Trends

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