Zymeworks (NYSE:ZYME) Given New $10.00 Price Target at HC Wainwright

Zymeworks (NYSE:ZYMEGet Rating) had its price target lifted by HC Wainwright from $8.00 to $10.00 in a research report sent to investors on Monday, The Fly reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently commented on ZYME. SVB Leerink downgraded shares of Zymeworks from an outperform rating to a market perform rating and lowered their price target for the stock from $19.00 to $8.00 in a report on Friday, October 21st. Wells Fargo & Company lowered their target price on shares of Zymeworks from $45.00 to $9.00 and set an overweight rating for the company in a report on Tuesday, October 4th. Stifel Nicolaus lowered their target price on shares of Zymeworks from $21.00 to $18.00 and set a buy rating for the company in a report on Monday, October 24th. Finally, Citigroup lowered their target price on shares of Zymeworks from $27.00 to $21.00 in a report on Wednesday, September 14th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $15.25.

Zymeworks Trading Up 2.4 %

Shares of ZYME opened at $7.95 on Monday. The stock has a market cap of $500.82 million, a P/E ratio of -2.08 and a beta of 1.12. The company has a 50-day moving average of $6.41 and a two-hundred day moving average of $6.22. Zymeworks has a 12-month low of $4.11 and a 12-month high of $21.44.

Zymeworks (NYSE:ZYMEGet Rating) last issued its quarterly earnings results on Tuesday, November 8th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.22. The business had revenue of $2.63 million during the quarter, compared to the consensus estimate of $4.74 million. Zymeworks had a negative net margin of 751.00% and a negative return on equity of 89.24%. As a group, analysts forecast that Zymeworks will post -2.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Zymeworks

Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its stake in Zymeworks by 30.8% during the first quarter. Russell Investments Group Ltd. now owns 149,892 shares of the company’s stock worth $980,000 after buying an additional 35,264 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Zymeworks during the first quarter worth $31,000. National Bank of Canada FI lifted its position in shares of Zymeworks by 52,992.5% during the first quarter. National Bank of Canada FI now owns 318,555 shares of the company’s stock worth $2,087,000 after purchasing an additional 317,955 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Zymeworks during the first quarter worth $1,810,000. Finally, Silverarc Capital Management LLC acquired a new position in shares of Zymeworks during the second quarter worth $1,104,000. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

The Fly logo

Analyst Recommendations for Zymeworks (NYSE:ZYME)

Receive News & Ratings for Zymeworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zymeworks and related companies with MarketBeat.com's FREE daily email newsletter.