Zymeworks Inc. (NASDAQ:ZYME) Receives $37.89 Average Target Price from Brokerages

Shares of Zymeworks Inc. (NASDAQ:ZYME) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $37.8889.

ZYME has been the topic of several research reports. Stifel Nicolaus increased their price target on shares of Zymeworks from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. HC Wainwright increased their price target on shares of Zymeworks from $32.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Zymeworks in a research report on Monday, April 20th. Leerink Partners raised their target price on shares of Zymeworks from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Finally, Truist Financial upgraded shares of Zymeworks to a “strong-buy” rating in a research report on Monday.

Zymeworks Price Performance

ZYME stock opened at $27.83 on Thursday. The company’s 50 day simple moving average is $25.30 and its 200-day simple moving average is $23.78. The firm has a market capitalization of $2.05 billion, a PE ratio of -25.77 and a beta of 1.20. Zymeworks has a 12 month low of $10.86 and a 12 month high of $29.75.

Zymeworks (NASDAQ:ZYME) last released its quarterly earnings results on Saturday, February 14th. The company reported ($0.55) EPS for the quarter. The business had revenue of $2.52 million during the quarter. Zymeworks had a negative net margin of 76.56% and a negative return on equity of 26.00%. As a group, sell-side analysts anticipate that Zymeworks will post 0.97 earnings per share for the current year.

Institutional Trading of Zymeworks

A number of hedge funds have recently bought and sold shares of the company. Rubric Capital Management LP boosted its position in Zymeworks by 22.1% during the fourth quarter. Rubric Capital Management LP now owns 5,750,000 shares of the company’s stock worth $151,398,000 after acquiring an additional 1,039,449 shares during the last quarter. Perceptive Advisors LLC boosted its position in Zymeworks by 56.0% during the fourth quarter. Perceptive Advisors LLC now owns 3,261,850 shares of the company’s stock worth $85,885,000 after acquiring an additional 1,171,187 shares during the last quarter. Vanguard Group Inc. raised its stake in Zymeworks by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 2,328,727 shares of the company’s stock worth $61,315,000 after purchasing an additional 174,293 shares during the period. Vestal Point Capital LP grew its stake in shares of Zymeworks by 53.5% during the 3rd quarter. Vestal Point Capital LP now owns 1,765,000 shares of the company’s stock valued at $30,146,000 after buying an additional 615,000 shares during the period. Finally, Siren L.L.C. acquired a new stake in shares of Zymeworks during the 4th quarter worth $44,238,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Zymeworks Company Profile

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.

At the core of Zymeworks’ innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.