HC Wainwright Issues Positive Forecast for Zymeworks (NYSE:ZYME) Stock Price

Zymeworks (NYSE:ZYME) had its price objective raised by HC Wainwright from $26.00 to $32.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Leerink Partners set a $37.00 target price on shares of Zymeworks in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Zymeworks from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. boosted their target price on Zymeworks from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Citigroup upped their target price on Zymeworks from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Finally, B. Riley began coverage on Zymeworks in a research report on Friday, October 10th. They set a “buy” rating and a $30.00 price target on the stock. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.29.

Zymeworks Price Performance

Shares of Zymeworks stock opened at $22.99 on Tuesday. Zymeworks has a 1-year low of $9.03 and a 1-year high of $26.19. The business’s fifty day moving average price is $17.73 and its two-hundred day moving average price is $14.66. The company has a market capitalization of $1.72 billion, a P/E ratio of -15.33 and a beta of 1.48.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The company had revenue of $27.61 million for the quarter, compared to analyst estimates of $33.69 million. During the same period last year, the company earned ($0.39) earnings per share. The company’s quarterly revenue was up 72.6% compared to the same quarter last year. On average, research analysts expect that Zymeworks will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Optiver Holding B.V. acquired a new stake in shares of Zymeworks during the 3rd quarter valued at $26,000. CWM LLC raised its position in shares of 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. Quarry LP purchased a new stake in shares of Zymeworks during the third quarter valued at $50,000. Tower Research Capital LLC TRC lifted its holdings in shares of Zymeworks by 29.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock valued at $62,000 after purchasing an additional 1,131 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its position in shares of Zymeworks by 83.3% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company’s stock valued at $119,000 after purchasing an additional 4,559 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.