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

Zymeworks Inc. (NYSE:ZYMEGet Rating) has been given a consensus recommendation of “Buy” by the nine analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $28.13.

A number of equities analysts have issued reports on ZYME shares. Citigroup cut their target price on shares of Zymeworks from $53.00 to $30.00 in a report on Monday, February 28th. Wells Fargo & Company dropped their target price on Zymeworks from $56.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 9th. Zacks Investment Research downgraded shares of Zymeworks from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Evercore ISI started coverage on shares of Zymeworks in a report on Tuesday, March 15th. They issued an “outperform” rating and a $15.00 price objective on the stock. Finally, SVB Leerink boosted their target price on shares of Zymeworks from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday.

Shares of Zymeworks stock opened at $6.87 on Friday. The firm has a market cap of $396.89 million, a PE ratio of -1.46 and a beta of 1.06. Zymeworks has a 1 year low of $4.56 and a 1 year high of $39.41. The firm’s 50-day simple moving average is $6.14 and its 200-day simple moving average is $10.41.

Zymeworks (NYSE:ZYMEGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.11. The firm had revenue of $19.87 million for the quarter, compared to analysts’ expectations of $12.69 million. Zymeworks had a negative return on equity of 84.77% and a negative net margin of 858.18%. Equities analysts expect that Zymeworks will post -3.72 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZYME. FMR LLC grew its holdings in Zymeworks by 331.4% during the first quarter. FMR LLC now owns 2,401,897 shares of the company’s stock worth $38,863,000 after acquiring an additional 1,845,142 shares during the period. Bank of America Corp DE grew its stake in shares of Zymeworks by 60.4% in the 2nd quarter. Bank of America Corp DE now owns 9,445 shares of the company’s stock worth $328,000 after purchasing an additional 3,557 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Zymeworks by 43.8% in the 2nd quarter. Invesco Ltd. now owns 9,646 shares of the company’s stock worth $335,000 after purchasing an additional 2,937 shares in the last quarter. Morgan Stanley lifted its stake in Zymeworks by 32.9% during the second quarter. Morgan Stanley now owns 2,316,647 shares of the company’s stock valued at $80,363,000 after purchasing an additional 574,073 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Zymeworks by 411.6% during the third quarter. Goldman Sachs Group Inc. now owns 278,208 shares of the company’s stock worth $8,079,000 after buying an additional 223,823 shares in the last quarter. Hedge funds and other institutional investors own 68.38% of the company’s stock.

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.

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Analyst Recommendations for Zymeworks (NYSE:ZYME)

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