Zymeworks Inc. (NYSE:ZYME) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Zymeworks Inc. (NYSE:ZYME) have earned an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $21.00.

Several research analysts have recently issued reports on ZYME shares. Lifesci Capital started coverage on Zymeworks in a research report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price objective for the company. HC Wainwright upped their target price on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, March 10th. TD Securities began coverage on Zymeworks in a research report on Tuesday, May 20th. They issued a “buy” rating for the company. TD Cowen began coverage on Zymeworks in a research report on Tuesday, May 20th. They issued a “buy” rating for the company. Finally, Citigroup upped their target price on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 7th.

Zymeworks Trading Up 0.5%

ZYME stock opened at $11.54 on Tuesday. The company has a market capitalization of $802.92 million, a PE ratio of -7.69 and a beta of 1.24. Zymeworks has a 12-month low of $8.21 and a 12-month high of $17.70. The business’s fifty day moving average price is $11.73 and its 200 day moving average price is $13.24.

Zymeworks (NYSE:ZYME) last released its earnings results on Thursday, May 8th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.15. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm had revenue of $27.11 million during the quarter, compared to analysts’ expectations of $20.65 million. During the same period in the previous year, the firm posted ($0.42) EPS. Zymeworks’s revenue for the quarter was up 170.3% on a year-over-year basis. Research analysts predict that Zymeworks will post -1.39 EPS for the current fiscal year.

Insider Buying and Selling at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 320,690 shares of the stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $11.49 per share, for a total transaction of $3,684,728.10. Following the acquisition, the director now owns 16,040,851 shares in the company, valued at $184,309,377.99. This represents a 2.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have purchased 1,405,768 shares of company stock worth $16,773,032. 1.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its position in shares of Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after acquiring an additional 1,524 shares during the last quarter. CWM LLC grew its stake in Zymeworks by 1,091.2% in the first quarter. CWM LLC now owns 2,299 shares of the company’s stock worth $27,000 after purchasing an additional 2,106 shares in the last quarter. AlphaQuest LLC grew its stake in Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after purchasing an additional 2,324 shares in the last quarter. GAMMA Investing LLC grew its stake in Zymeworks by 1,113.3% in the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock worth $77,000 after purchasing an additional 5,934 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Zymeworks in the fourth quarter worth about $108,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

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 human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.