Zymeworks (NASDAQ:ZYME) Cut to Hold at Wall Street Zen

Zymeworks (NASDAQ:ZYME) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Zymeworks in a research report on Wednesday, October 8th. B. Riley raised shares of Zymeworks to a “strong-buy” rating in a research note on Thursday, October 9th. Zacks Research upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. HC Wainwright upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Finally, Wells Fargo & Company raised shares of Zymeworks to a “hold” rating in a research note on Friday, October 24th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Zymeworks presently has an average rating of “Buy”.

Zymeworks Price Performance

Shares of ZYME traded down $1.44 during trading hours on Friday, hitting $16.46. The stock had a trading volume of 1,481,653 shares, compared to its average volume of 578,297. The firm has a fifty day moving average price of $16.96. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -16.97 and a beta of 1.48. Zymeworks has a 12 month low of $9.03 and a 12 month high of $19.98.

Zymeworks (NASDAQ:ZYME) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04. The business had revenue of $27.61 million for the quarter, compared to analysts’ expectations of $28.27 million. Zymeworks had a negative net margin of 59.96% and a negative return on equity of 21.59%.

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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, and breast cancer; and ZW49, a biparatopic anti- human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.