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

Shares of Zymeworks Inc. (NYSE:ZYME) have earned an average recommendation of “Buy” from the ten brokerages that are covering the stock, Marketbeat reports. Ten investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $32.10.

ZYME has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Zymeworks from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. HC Wainwright upped their target price on Zymeworks from $26.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. JMP Securities set a $32.00 price target on Zymeworks in a report on Wednesday, December 3rd. Leerink Partners set a $37.00 price target on shares of Zymeworks in a research report on Monday, November 17th. Finally, Stifel Nicolaus raised their price objective on shares of Zymeworks from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th.

Zymeworks Stock Up 2.2%

Shares of NYSE ZYME opened at $25.48 on Friday. The firm has a 50-day simple moving average of $21.07 and a 200-day simple moving average of $16.36. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -16.99 and a beta of 1.27. Zymeworks has a 52 week low of $9.03 and a 52 week high of $28.49.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.02. The company had revenue of $27.61 million during the quarter, compared to analysts’ expectations of $33.69 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. Zymeworks’s revenue was up 72.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.39) EPS. As a group, equities research analysts expect that Zymeworks will post -1.39 EPS for the current year.

Institutional Trading of Zymeworks

Several institutional investors have recently made changes to their positions in the company. Optiver Holding B.V. acquired a new position in Zymeworks in the third quarter valued at approximately $26,000. Quarry LP purchased a new stake in Zymeworks in the third quarter valued at $50,000. Tower Research Capital LLC TRC lifted its stake in shares of Zymeworks by 29.6% in the 2nd 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. CWM LLC grew its holdings in shares of Zymeworks by 272.8% during the 2nd quarter. CWM LLC now owns 8,570 shares of the company’s stock worth $108,000 after purchasing an additional 6,271 shares during the period. Finally, Northwest & Ethical Investments L.P. grew its holdings in shares of Zymeworks by 83.3% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company’s stock worth $119,000 after purchasing an additional 4,559 shares during the period. 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.