Zymeworks (NYSE:ZYME) Given “Outperform” Rating at Raymond James

Raymond James reissued their outperform rating on shares of Zymeworks (NYSE:ZYME) in a research note published on Thursday morning, BayStreet.CA reports. Raymond James currently has a $36.00 price objective on the stock. Raymond James also issued estimates for Zymeworks’ Q3 2019 earnings at ($0.56) EPS and FY2019 earnings at ($2.40) EPS.

A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded Green Plains from a hold rating to a strong sell rating in a research report on Thursday, June 27th. Canaccord Genuity set a $23.00 target price on Zymeworks and gave the company a buy rating in a research report on Friday, May 3rd. ValuEngine downgraded Zymeworks from a buy rating to a hold rating in a research report on Saturday, May 18th. Deutsche Bank increased their target price on eBay from $42.00 to $46.00 and gave the company a buy rating in a research report on Thursday. Finally, Wells Fargo & Co set a $58.00 target price on Sonoco Products and gave the company a hold rating in a research report on Monday, April 22nd. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $30.00.

NYSE ZYME opened at $24.29 on Thursday. The company has a quick ratio of 6.76, a current ratio of 6.76 and a debt-to-equity ratio of 0.04. The company has a market cap of $959.85 million, a P/E ratio of -19.28 and a beta of 1.48. Zymeworks has a one year low of $10.72 and a one year high of $25.71. The firm’s 50 day moving average price is $21.82.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, May 2nd. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.09. The firm had revenue of $11.93 million during the quarter. Zymeworks had a negative return on equity of 16.41% and a negative net margin of 44.67%. On average, equities analysts expect that Zymeworks will post -2.15 EPS for the current fiscal year.

In related news, CFO Neil A. Klompas sold 8,308 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $19.23, for a total value of $159,762.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.80% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can lifted its position in Zymeworks by 36.1% in the first quarter. Bank of Montreal Can now owns 5,960 shares of the company’s stock worth $96,000 after buying an additional 1,580 shares during the last quarter. Granite Investment Partners LLC lifted its position in Zymeworks by 87.8% in the first quarter. Granite Investment Partners LLC now owns 27,277 shares of the company’s stock worth $441,000 after buying an additional 12,750 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Zymeworks by 8.0% in the first quarter. Wedge Capital Management L L P NC now owns 172,063 shares of the company’s stock worth $2,784,000 after buying an additional 12,792 shares during the last quarter. First Republic Investment Management Inc. bought a new stake in Zymeworks in the first quarter worth $548,000. Finally, Acadian Asset Management LLC lifted its position in Zymeworks by 44.7% in the first quarter. Acadian Asset Management LLC now owns 164,135 shares of the company’s stock worth $2,654,000 after buying an additional 50,736 shares during the last quarter. Institutional investors own 29.15% of the company’s stock.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.

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Analyst Recommendations for Zymeworks (NYSE:ZYME)

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