Zymeworks (NYSE:ZYME – Get 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.
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
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.
- Get a free copy of the StockNews.com research report on Zymeworks (ZYME)
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