Zymeworks Inc. (NYSE:ZYME) Given Consensus Rating of “Moderate Buy” by Analysts

Zymeworks Inc. (NYSE:ZYMEGet Rating) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $15.25.

ZYME has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Zymeworks from $45.00 to $9.00 and set an “overweight” rating on the stock in a report on Tuesday, October 4th. SVB Leerink lowered Zymeworks from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $19.00 to $8.00 in a research report on Friday, October 21st. Citigroup dropped their target price on shares of Zymeworks from $27.00 to $21.00 in a report on Wednesday, September 14th. HC Wainwright increased their price target on shares of Zymeworks from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Stifel Nicolaus dropped their price objective on shares of Zymeworks from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, October 24th.

Zymeworks Price Performance

Shares of Zymeworks stock opened at $8.04 on Friday. Zymeworks has a 12-month low of $4.11 and a 12-month high of $21.44. The company’s fifty day simple moving average is $6.58 and its two-hundred day simple moving average is $6.26.

Zymeworks (NYSE:ZYMEGet Rating) last announced its earnings results on Tuesday, November 8th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.22. Zymeworks had a negative net margin of 751.00% and a negative return on equity of 89.24%. The firm had revenue of $2.63 million for the quarter, compared to analyst estimates of $4.74 million. On average, equities analysts expect that Zymeworks will post 1.6 earnings per share for the current fiscal year.

Institutional Trading of Zymeworks

Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in Zymeworks by 30.8% during the 1st quarter. Russell Investments Group Ltd. now owns 149,892 shares of the company’s stock valued at $980,000 after purchasing an additional 35,264 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Zymeworks during the 1st quarter valued at about $31,000. National Bank of Canada FI increased its stake in Zymeworks by 52,992.5% during the 1st quarter. National Bank of Canada FI now owns 318,555 shares of the company’s stock valued at $2,087,000 after purchasing an additional 317,955 shares in the last quarter. Walleye Capital LLC bought a new stake in Zymeworks during the 1st quarter valued at about $1,810,000. Finally, Silverarc Capital Management LLC bought a new stake in Zymeworks during the 2nd quarter valued at about $1,104,000. 92.45% of the stock is currently owned by institutional investors.

Zymeworks Company Profile

(Get Rating)

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, breast, and colorectal 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.

Further Reading

Analyst Recommendations for Zymeworks (NYSE:ZYME)

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