Zymeworks (NASDAQ:ZYME) Trading 1.2% Higher – Time to Buy?

Zymeworks Inc. (NASDAQ:ZYME) shares traded up 1.2% during mid-day trading on Tuesday . The stock traded as high as $23.66 and last traded at $23.44. 480,944 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 881,353 shares. The stock had previously closed at $23.17.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Citizens Jmp raised shares of Zymeworks to a “strong-buy” rating in a report on Wednesday, December 3rd. B. Riley raised shares of Zymeworks to a “strong-buy” rating in a research report on Thursday, October 9th. Truist Financial upgraded shares of Zymeworks to a “strong-buy” rating in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zymeworks in a research report on Wednesday, January 21st. Finally, Zacks Research downgraded shares of Zymeworks from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 26th. Four investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zymeworks presently has a consensus rating of “Buy” and a consensus price target of $33.00.

Zymeworks Stock Up 1.2%

The firm’s 50-day simple moving average is $25.13. The company has a market capitalization of $1.75 billion, a PE ratio of -27.90 and a beta of 1.25.

Zymeworks (NASDAQ:ZYME) last released 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 ($0.30) by $0.04. The company had revenue of $27.61 million during the quarter, compared to the consensus estimate of $28.27 million. Zymeworks had a negative net margin of 47.16% and a negative return on equity of 19.25%.

About Zymeworks

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.