Zymeworks Inc. (NASDAQ:ZYME) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Zymeworks Inc. (NASDAQ:ZYME) have been given an average recommendation of “Buy” by the seven research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and four have given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $33.00.

Several equities research analysts have commented on ZYME shares. Zacks Research downgraded shares of Zymeworks from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 26th. Citizens Jmp upgraded Zymeworks to a “strong-buy” rating in a report on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Zymeworks in a research note on Wednesday, January 21st. Truist Financial raised Zymeworks to a “strong-buy” rating in a research report on Wednesday, December 17th. Finally, Wall Street Zen lowered Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th.

Zymeworks Trading Up 3.2%

NASDAQ ZYME opened at $22.72 on Friday. Zymeworks has a 12 month low of $9.03 and a 12 month high of $28.49. The stock has a 50-day simple moving average of $24.86 and a 200 day simple moving average of $19.78. The company has a market capitalization of $1.70 billion, a PE ratio of -27.05 and a beta of 1.25.

Zymeworks (NASDAQ:ZYME) last posted its earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.04. The company had revenue of $27.61 million during 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%.

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.