Shares of Zymeworks Inc. (NASDAQ:ZYME – Get Free Report) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $41.67.
ZYME has been the topic of several research analyst reports. HC Wainwright boosted their target price on Zymeworks from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zymeworks in a report on Thursday, October 15th. 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 note on Monday, August 10th. Deutsche Bank Aktiengesellschaft set a $32.00 price target on Zymeworks in a research note on Wednesday, August 26th. Finally, Jefferies Financial Group restated a “buy” rating and set a $52.00 price objective on shares of Zymeworks in a report on Friday, October 23rd.
Read Our Latest Report on Zymeworks
Zymeworks Price Performance
Zymeworks stock opened at $29.63 on Monday. The firm has a market cap of $2.09 billion, a P/E ratio of -14.67 and a beta of 1.32. The business has a fifty day moving average of $27.40 and a two-hundred day moving average of $25.34. Zymeworks has a twelve month low of $16.00 and a twelve month high of $31.49.
Zymeworks (NASDAQ:ZYME – Get Free Report) last released its quarterly 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). The firm had revenue of $3.23 million during the quarter, compared to the consensus estimate of $4.54 million. Zymeworks had a negative net margin of 405.31% and a negative return on equity of 72.30%. The firm’s quarterly revenue was down 90.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 earnings per share. Equities analysts expect that Zymeworks will post 1.32 earnings per share for the current year.
Insider Activity at Zymeworks
In other Zymeworks news, EVP Adam Schayowitz sold 13,832 shares of the stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $25.85, for a total transaction of $357,557.20. Following the sale, the executive vice president directly owned 23,205 shares of the company’s stock, valued at approximately $599,849.25. This trade represents a 37.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 37.73% of the stock is owned by company insiders.
Hedge Funds Weigh In On Zymeworks
Hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in Zymeworks by 3.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,487 shares of the company’s stock valued at $288,000 after acquiring an additional 420 shares during the last quarter. Tema ETFs LLC boosted its position in shares of Zymeworks by 0.7% during the 2nd quarter. Tema ETFs LLC now owns 105,615 shares of the company’s stock valued at $2,761,000 after acquiring an additional 684 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Zymeworks by 0.7% in the second quarter. Tidal Investments LLC now owns 105,615 shares of the company’s stock valued at $2,761,000 after purchasing an additional 684 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Zymeworks by 10.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,507 shares of the company’s stock worth $221,000 after purchasing an additional 800 shares during the period. Finally, Nykredit A S acquired a new position in Zymeworks in the 2nd quarter valued at about $25,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.
Zymeworks Company Profile
Zymeworks Inc is a biopharmaceutical company focused on discovering, developing and commercializing multifunctional biotherapeutics for cancer and other serious diseases. The company is headquartered in Vancouver, British Columbia, and has historically operated internationally through research, development and collaboration activities.
Zymeworks’ technology platforms include Azymetric, which is designed to support the development of engineered antibody therapeutics, and ZymeLink, which enables the creation of antibody-drug conjugates and other targeted therapies.
Featured Stories
- Five stocks we like better than Zymeworks
- Lemonade’s Revenue Soars 73%—So Why Did Its Stock Turn Sour After Earnings?
- Anthropic’s S-1 Strengthens the Case for Broadcom’s AI Growth
- After the Midterms, Which of These 3 Defense ETFs Looks Strongest?
- The Ugly Truth Behind SoundHound’s Q3 Results
Receive News & Ratings for Zymeworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zymeworks and related companies with MarketBeat.com's FREE daily email newsletter.
