Zymeworks (NYSE:ZYME) Earns Neutral Rating from HC Wainwright

Zymeworks (NYSE:ZYME)‘s stock had its “neutral” rating reiterated by HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $12.00 price target on the stock. HC Wainwright’s price target would indicate a potential downside of 12.42% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus upped their target price on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. Citigroup boosted their target price on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company downgraded shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target on the stock. in a research note on Friday, November 1st. Finally, Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two research 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Zymeworks Stock Performance

Shares of Zymeworks stock opened at $13.70 on Friday. The stock has a 50 day moving average price of $13.70 and a 200-day moving average price of $11.14. Zymeworks has a one year low of $7.97 and a one year high of $17.70. The stock has a market cap of $943.79 million, a price-to-earnings ratio of -9.13 and a beta of 1.16.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.01. The business had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. Sell-side analysts predict that Zymeworks will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of Zymeworks

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after purchasing an additional 1,525 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Zymeworks during the 3rd quarter valued at $47,000. Quest Partners LLC boosted its position in Zymeworks by 8,049.6% during the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after acquiring an additional 9,096 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Zymeworks in the 3rd quarter valued at $79,000. Finally, MQS Management LLC bought a new position in shares of Zymeworks in the 2nd quarter worth $92,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.