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

Zymeworks Inc. (NYSE:ZYME) has been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Two 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 1-year price objective among brokers that have updated their coverage on the stock in the last year is $21.00.

Several analysts have recently commented on ZYME shares. TD Securities started coverage on Zymeworks in a research note on Tuesday, May 20th. They issued a “buy” rating for the company. HC Wainwright restated a “neutral” rating and issued a $13.00 target price on shares of Zymeworks in a research note on Thursday, July 3rd. Finally, TD Cowen initiated coverage on Zymeworks in a research note on Tuesday, May 20th. They set a “buy” rating for the company.

Insider Activity at Zymeworks

In related news, Director Ecor1 Capital, Llc purchased 49,502 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average price of $11.43 per share, with a total value of $565,807.86. Following the acquisition, the director owned 17,877,989 shares of the company’s stock, valued at $204,345,414.27. This trade represents a 0.28% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zymeworks

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC grew 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 valued at $25,000 after purchasing an additional 1,524 shares in the last quarter. CWM LLC grew its position 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 acquiring an additional 2,106 shares in the last quarter. AlphaQuest LLC grew its position 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 acquiring an additional 2,324 shares in the last quarter. GAMMA Investing LLC grew its position 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 acquiring an additional 5,934 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Zymeworks in the fourth quarter worth $108,000. Institutional investors own 92.89% of the company’s stock.

Zymeworks Stock Down 3.5%

Shares of NYSE:ZYME opened at $12.88 on Wednesday. The business has a fifty day simple moving average of $12.30 and a 200 day simple moving average of $12.80. Zymeworks has a 12-month low of $9.03 and a 12-month high of $17.70. The firm has a market cap of $897.52 million, a P/E ratio of -8.59 and a beta of 1.19.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) earnings per share 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 analyst estimates of $20.65 million. During the same period last year, the company posted ($0.42) EPS. The business’s quarterly revenue was up 170.3% on a year-over-year basis. As a group, equities research analysts expect that Zymeworks will post -1.39 EPS for the current year.

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.