Zymeworks Inc. (NYSE:ZYME) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Zymeworks Inc. (NYSE:ZYME) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $21.00.

ZYME has been the subject of several analyst reports. TD Securities initiated coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They issued a “buy” rating for the company. Lifesci Capital initiated coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price target for the company. Citigroup increased their price target on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 7th. TD Cowen initiated coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They issued a “buy” rating for the company. Finally, HC Wainwright increased their price target on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, March 10th.

Zymeworks Trading Down 1.2%

ZYME stock opened at $12.48 on Friday. The company has a market cap of $868.32 million, a price-to-earnings ratio of -8.32 and a beta of 1.18. Zymeworks has a 12 month low of $8.21 and a 12 month high of $17.70. The firm has a 50-day moving average of $12.05 and a two-hundred day moving average of $12.90.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. The company had revenue of $27.11 million during the quarter, compared to the consensus estimate of $20.65 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. Zymeworks’s quarterly revenue was up 170.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.42) EPS. As a group, equities analysts forecast that Zymeworks will post -1.39 earnings per share for the current year.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc acquired 196,438 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $11.17 per share, with a total value of $2,194,212.46. Following the completion of the transaction, the director now owns 17,699,774 shares of the company’s stock, valued at $197,706,475.58. The trade was a 1.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have purchased 471,106 shares of company stock valued at $5,421,364. 1.92% of the stock is currently owned by company insiders.

Institutional Trading of Zymeworks

A number of large investors have recently modified their holdings of the stock. Sterling Capital Management LLC lifted its position in shares of Zymeworks by 781.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after purchasing an additional 1,524 shares during the last quarter. CWM LLC lifted its position in shares of Zymeworks by 1,091.2% during the 1st quarter. CWM LLC now owns 2,299 shares of the company’s stock worth $27,000 after purchasing an additional 2,106 shares during the last quarter. AlphaQuest LLC lifted its position in shares of Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after purchasing an additional 2,324 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Zymeworks by 1,113.3% during the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock worth $77,000 after purchasing an additional 5,934 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Zymeworks during the 4th quarter worth $108,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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 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.