Zymeworks (NASDAQ:ZYME) Sets New 12-Month High After Analyst Upgrade

Zymeworks Inc. (NASDAQ:ZYME)’s share price reached a new 52-week high during mid-day trading on Friday after B. Riley upgraded the stock to a strong-buy rating. The stock traded as high as $18.35 and last traded at $17.96, with a volume of 154275 shares changing hands. The stock had previously closed at $16.92.

ZYME has been the subject of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Zymeworks in a report on Wednesday. Wall Street Zen upgraded shares of Zymeworks from a “buy” rating to a “strong-buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Zymeworks Stock Performance

The stock has a market cap of $1.36 billion, a PE ratio of -18.62 and a beta of 1.51. The firm has a 50 day moving average of $15.16.

Zymeworks (NASDAQ:ZYME) last posted its quarterly earnings data on Tuesday, November 8th. The company reported ($1.14) EPS for the quarter. The firm had revenue of $4.40 million for the quarter. Zymeworks had a negative return on equity of 21.59% and a negative net margin of 59.96%.

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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, and breast 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.