Zymeworks (NYSE:ZYME) Upgraded to “Outperform” at Leerink Partners

Leerink Partners upgraded shares of Zymeworks (NYSE:ZYME) from a market perform rating to an outperform rating in a research report released on Thursday morning, MarketBeat.com reports. The firm currently has $25.00 price target on the stock, up from their previous price target of $10.00.

Several other research firms also recently commented on ZYME. Citigroup upped their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday. HC Wainwright reissued a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a report on Friday, November 1st. Stifel Nicolaus boosted their price objective on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company lowered Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 target price on the stock. in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zymeworks has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Zymeworks Price Performance

NYSE ZYME traded down $0.14 on Thursday, hitting $16.63. 367,115 shares of the stock were exchanged, compared to its average volume of 625,827. The business’s fifty day moving average is $12.90 and its 200 day moving average is $10.64. Zymeworks has a 52 week low of $6.83 and a 52 week high of $17.26. The company has a market capitalization of $1.15 billion, a PE ratio of -11.18 and a beta of 1.16.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. During the same quarter in the previous year, the business earned ($0.41) earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. Analysts predict that Zymeworks will post -1.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Zymeworks

Large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its stake in Zymeworks by 5.3% during the third quarter. Empowered Funds LLC now owns 335,661 shares of the company’s stock worth $4,213,000 after buying an additional 17,018 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Zymeworks by 64.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,665 shares of the company’s stock valued at $171,000 after purchasing an additional 5,359 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Zymeworks in the 3rd quarter valued at approximately $47,000. Assenagon Asset Management S.A. bought a new stake in Zymeworks during the 3rd quarter worth approximately $4,156,000. Finally, nVerses Capital LLC bought a new stake in Zymeworks in the third quarter worth approximately $79,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company’s lead product candidates include zanidatamab, a human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.