Zymeworks (NASDAQ:ZYME) Hits New 12-Month High – What’s Next?

Zymeworks Inc. (NASDAQ:ZYME) shares reached a new 52-week high on Tuesday . The stock traded as high as $26.19 and last traded at $23.90, with a volume of 11148599 shares traded. The stock had previously closed at $18.52.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. B. Riley raised Zymeworks to a “strong-buy” rating in a research report on Thursday, October 9th. Wall Street Zen lowered Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. HC Wainwright raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zymeworks in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Zymeworks currently has an average rating of “Buy”.

Zymeworks Stock Down 1.7%

The firm’s 50-day moving average price is $17.87. The company has a market capitalization of $1.69 billion, a P/E ratio of -23.30 and a beta of 1.48.

Zymeworks (NASDAQ:ZYME) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04. Zymeworks had a negative net margin of 59.96% and a negative return on equity of 21.59%. The business had revenue of $27.61 million during the quarter, compared to analysts’ expectations of $28.27 million.

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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, and breast 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.