Zymeworks (NYSE:ZYME) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Zymeworks (NYSE:ZYME) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $20.00 to $23.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 25.00% from the company’s previous close.

ZYME has been the topic of a number of other reports. HC Wainwright set a $26.00 price target on shares of Zymeworks and gave the company a “buy” rating in a research report on Tuesday. B. Riley initiated coverage on shares of Zymeworks in a research report on Friday, October 10th. They set a “buy” rating and a $30.00 price target on the stock. Finally, Citigroup raised their price target on shares of Zymeworks from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $24.75.

Zymeworks Price Performance

Shares of ZYME stock opened at $18.40 on Thursday. The firm has a 50-day moving average of $15.76 and a 200-day moving average of $13.47. Zymeworks has a one year low of $9.03 and a one year high of $19.50. The company has a market cap of $1.38 billion, a P/E ratio of -12.27 and a beta of 1.51.

Zymeworks (NYSE:ZYME) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.55. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company had revenue of $48.73 million for the quarter, compared to analyst estimates of $17.18 million. During the same period last year, the firm earned ($0.49) earnings per share. The firm’s revenue was up 153.2% on a year-over-year basis. As a group, research analysts expect that Zymeworks will post -1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zymeworks

Several institutional investors have recently added to or reduced their stakes in ZYME. GAMMA Investing LLC grew its position in Zymeworks by 1,113.3% during the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock valued at $77,000 after buying an additional 5,934 shares during the period. Janney Montgomery Scott LLC grew its position in Zymeworks by 12.7% during the first quarter. Janney Montgomery Scott LLC now owns 11,567 shares of the company’s stock valued at $138,000 after buying an additional 1,300 shares during the period. Duncan Williams Asset Management LLC bought a new position in Zymeworks during the first quarter valued at about $263,000. CWM LLC boosted its position in Zymeworks by 1,091.2% during 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Zymeworks by 25.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,531 shares of the company’s stock worth $292,000 after purchasing an additional 4,920 shares during the period. 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.