Zymeworks (NASDAQ:ZYME) Upgraded at Truist Financial

Truist Financial upgraded shares of Zymeworks (NASDAQ:ZYME) to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zymeworks in a research note on Wednesday, October 8th. B. Riley raised Zymeworks to a “strong-buy” rating in a report on Thursday, October 9th. Wells Fargo & Company upgraded Zymeworks from an “equal weight” rating to an “overweight” rating and set a $33.00 target price on the stock in a research report on Friday, December 12th. Wall Street Zen downgraded Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, HC Wainwright upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Four equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Zymeworks currently has an average rating of “Buy” and a consensus target price of $33.00.

Zymeworks Trading Up 3.1%

NASDAQ:ZYME opened at $27.23 on Wednesday. Zymeworks has a 1 year low of $9.03 and a 1 year high of $28.49. The firm has a market cap of $2.04 billion, a PE ratio of -32.42 and a beta of 1.27. The business’s 50-day simple moving average is $22.00.

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

Zymeworks Company Profile

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.

At the core of Zymeworks’ innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.