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

Shares of Zymeworks Inc. (NYSE:ZYME) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $31.1250.

A number of research analysts have recently weighed in on ZYME shares. Leerink Partners set a $37.00 target price on shares of Zymeworks in a research report on Monday, November 17th. JPMorgan Chase & Co. increased their price objective on Zymeworks from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. B. Riley reissued a “buy” rating and issued a $40.00 target price (up from $30.00) on shares of Zymeworks in a research report on Friday. Stifel Nicolaus upped their price target on Zymeworks from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Finally, Citigroup increased their price target on Zymeworks from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, August 11th.

Zymeworks Price Performance

NYSE ZYME opened at $24.99 on Tuesday. The company has a fifty day moving average price of $18.37 and a 200-day moving average price of $15.00. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -16.66 and a beta of 1.48. Zymeworks has a 1 year low of $9.03 and a 1 year high of $26.19.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.02. The firm had revenue of $27.61 million during the quarter, compared to analyst estimates of $33.69 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company’s revenue for the quarter was up 72.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.39) EPS. On average, research analysts anticipate that Zymeworks will post -1.39 EPS for the current fiscal year.

Institutional Trading of Zymeworks

Institutional investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. purchased a new stake in shares of Zymeworks in the third quarter worth about $26,000. CWM LLC increased its holdings in Zymeworks by 1,091.2% during the 1st quarter. CWM LLC now owns 2,299 shares of the company’s stock worth $27,000 after acquiring an additional 2,106 shares during the period. Quarry LP purchased a new stake in Zymeworks in the 3rd quarter worth approximately $50,000. Tower Research Capital LLC TRC lifted its stake in Zymeworks by 29.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock worth $62,000 after purchasing an additional 1,131 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its holdings in Zymeworks by 83.3% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company’s stock valued at $119,000 after purchasing an additional 4,559 shares during the period. Hedge funds and other institutional investors 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.