Zymeworks Inc. (NYSE:ZYME) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Zymeworks Inc. (NYSE:ZYME) have earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. 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 company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $19.00.

Several research analysts have weighed in on ZYME shares. Wells Fargo & Company cut shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target on the stock. in a report on Friday, November 1st. 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. Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. HC Wainwright reiterated a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research report on Friday, November 22nd. Finally, 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 report on Monday, November 4th.

Zymeworks Trading Down 7.8 %

ZYME stock opened at $13.14 on Tuesday. Zymeworks has a 1-year low of $7.97 and a 1-year high of $17.70. The business’s 50 day simple moving average is $14.08 and its 200 day simple moving average is $11.60. The firm has a market capitalization of $905.06 million, a PE ratio of -8.76 and a beta of 1.12.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.01. The firm 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 company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.41) earnings per share. As a group, sell-side analysts predict that Zymeworks will post -1.43 EPS for the current fiscal year.

Institutional Trading of Zymeworks

A number of institutional investors have recently modified their holdings of ZYME. Perceptive Advisors LLC raised its stake in Zymeworks by 55.2% in the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock valued at $14,192,000 after purchasing an additional 592,904 shares in the last quarter. Rubric Capital Management LP increased its holdings in Zymeworks by 12.7% in the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock valued at $33,336,000 after buying an additional 441,947 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Zymeworks by 127.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock valued at $6,090,000 after buying an additional 401,068 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Zymeworks in the 3rd quarter valued at approximately $4,156,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Zymeworks during the 2nd quarter worth approximately $1,683,000. 92.89% of the stock is currently owned by institutional investors.

About Zymeworks

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.