Zymeworks Inc. (NASDAQ:ZYME) Receives Average Rating of “Buy” from Analysts

Shares of Zymeworks Inc. (NASDAQ:ZYME) have been given an average rating of “Buy” by the six brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and three have given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $33.00.

A number of analysts have commented on ZYME shares. Zacks Research lowered shares of Zymeworks from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 26th. B. Riley upgraded shares of Zymeworks to a “strong-buy” rating in a report on Thursday, October 9th. HC Wainwright upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Wall Street Zen cut shares of Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Wells Fargo & Company raised Zymeworks from an “equal weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a report on Friday, December 12th.

Zymeworks Trading Up 3.2%

Shares of NASDAQ:ZYME opened at $26.40 on Friday. Zymeworks has a 52-week low of $9.03 and a 52-week high of $28.49. The business has a 50 day moving average price of $21.81. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -31.43 and a beta of 1.27.

Zymeworks (NASDAQ:ZYME) last issued its earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. Zymeworks had a negative return on equity of 19.25% and a negative net margin of 47.16%.The company had revenue of $27.61 million for the quarter, compared to analyst estimates of $28.27 million.

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.