Zymeworks Inc. (NASDAQ:ZYME) Stock Has Average Target Price of $40.64 According to Analysts

Zymeworks Inc. (NASDAQ:ZYME – Get Free Report) has earned an average rating of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $40.64.

Several research firms recently issued reports on ZYME. B. Riley Financial restated a “buy” rating and set a $44.00 price target (up from $40.00) on shares of Zymeworks in a research report on Monday, August 10th. Citigroup reissued a “buy” rating and set a $39.00 price objective (up from $38.00) on shares of Zymeworks in a research note on Tuesday, September 29th. HC Wainwright raised their target price on shares of Zymeworks from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Stifel Nicolaus set a $46.00 price target on shares of Zymeworks in a research report on Friday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Zymeworks in a research report on Friday, July 17th.

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Insider Buying and Selling at Zymeworks

In related news, EVP Adam Schayowitz sold 13,832 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $25.85, for a total value of $357,557.20. Following the sale, the executive vice president directly owned 23,205 shares of the company’s stock, valued at $599,849.25. This trade represents a 37.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 33.51% of the company’s stock.

Hedge Funds Weigh In On Zymeworks

Several hedge funds have recently made changes to their positions in the business. Nykredit A S bought a new stake in Zymeworks in the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Zymeworks in the 4th quarter worth about $37,000. State of Wyoming bought a new stake in shares of Zymeworks during the 2nd quarter valued at about $73,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Zymeworks by 10.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,507 shares of the company’s stock valued at $221,000 after purchasing an additional 800 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Zymeworks by 3.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,487 shares of the company’s stock valued at $288,000 after purchasing an additional 420 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Trading Down 1.2%

Shares of NASDAQ:ZYME opened at $24.77 on Thursday. The stock’s 50-day moving average price is $26.78 and its 200-day moving average price is $25.63. Zymeworks has a 12-month low of $16.00 and a 12-month high of $31.34. The stock has a market capitalization of $1.76 billion, a P/E ratio of -12.26 and a beta of 1.17.

Zymeworks (NASDAQ:ZYME – Get Free Report) last released its earnings results on Friday, August 7th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). Zymeworks had a negative net margin of 405.31% and a negative return on equity of 72.30%. The company had revenue of $3.23 million during the quarter, compared to the consensus estimate of $4.54 million. During the same period last year, the firm posted $0.03 EPS. The company’s revenue was down 90.6% on a year-over-year basis. As a group, research analysts predict that Zymeworks will post 1.20 EPS for the current year.

About Zymeworks

(Get Free Report)

Zymeworks Inc (NASDAQ: ZYME) is a biopharmaceutical company focused on discovering, developing and commercializing engineered antibody-based therapeutics for cancer and other serious diseases. The company’s technologies are designed to create bispecific and multispecific antibodies, as well as antibody-drug conjugates that can target tumor cells and deliver therapeutic payloads.

Zymeworks’ leading product is zanidatamab, marketed in the United States as Ziihera. The bispecific antibody targets two separate sites on the HER2 protein and received U.S.

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