Zymeworks (NYSE:ZYME) Now Covered by Analysts at TD Cowen

TD Cowen started coverage on shares of Zymeworks (NYSE:ZYME) in a research note published on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. HC Wainwright boosted their price target on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, March 10th. Citigroup lifted their price objective on Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Finally, Lifesci Capital started coverage on Zymeworks in a research note on Tuesday, March 11th. They set an “outperform” rating and a $30.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Zymeworks Trading Up 5.2%

NYSE ZYME opened at $12.43 on Tuesday. The stock has a market cap of $864.84 million, a P/E ratio of -8.29 and a beta of 1.24. The company’s fifty day simple moving average is $11.80 and its 200-day simple moving average is $13.37. Zymeworks has a 52 week low of $8.21 and a 52 week high of $17.70.

Zymeworks (NYSE:ZYME) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.15. The firm had revenue of $27.11 million for the quarter, compared to the consensus estimate of $20.65 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm’s quarterly revenue was up 170.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.42) EPS. On average, research analysts expect that Zymeworks will post -1.39 EPS for the current fiscal year.

Insider Transactions at Zymeworks

In other news, Director Ecor1 Capital, Llc purchased 73,953 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The shares were acquired at an average cost of $11.16 per share, with a total value of $825,315.48. Following the transaction, the director now owns 17,773,727 shares in the company, valued at approximately $198,354,793.32. The trade was a 0.42% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders bought 1,405,768 shares of company stock worth $16,773,032. 1.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Zymeworks

Institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC lifted its position in shares of Zymeworks by 781.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after buying an additional 1,524 shares during the last quarter. CWM LLC raised its stake in Zymeworks by 1,091.2% during the first 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. AlphaQuest LLC lifted its holdings in Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after acquiring an additional 2,324 shares during the last quarter. GAMMA Investing LLC boosted its stake in Zymeworks by 1,113.3% in the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock valued at $77,000 after acquiring an additional 5,934 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in Zymeworks in the fourth quarter valued at approximately $108,000. Institutional investors own 92.89% of the company’s stock.

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 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.