Zymeworks (NASDAQ:ZYME) Raised to “Strong-Buy” at Citizens Jmp

Zymeworks (NASDAQ:ZYME) was upgraded by analysts at Citizens Jmp to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also issued reports on ZYME. Wall Street Zen lowered Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zymeworks in a research note on Wednesday, October 8th. HC Wainwright raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. B. Riley upgraded Zymeworks to a “strong-buy” rating in a report on Thursday, October 9th. Finally, Wells Fargo & Company upgraded Zymeworks to a “hold” rating in a research note on Friday, October 24th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Zymeworks Stock Up 1.1%

ZYME opened at $26.52 on Wednesday. The firm has a fifty day moving average price of $20.00. Zymeworks has a fifty-two week low of $9.03 and a fifty-two week high of $28.49. The stock has a market capitalization of $1.98 billion, a PE ratio of -31.57 and a beta of 1.27.

Zymeworks (NASDAQ:ZYME) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.04. The firm had revenue of $27.61 million during the quarter, compared to analyst estimates of $28.27 million. Zymeworks had a negative return on equity of 19.25% and a negative net margin of 47.16%.

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 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.