Shares of Zymeworks Inc (NYSE:ZYME) have been given a consensus recommendation of “Buy” by the nine analysts that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $25.00.
Several research firms recently issued reports on ZYME. Citigroup downgraded Zymeworks from a “buy” rating to a “neutral” rating in a report on Wednesday, June 6th. Raymond James boosted their price objective on Zymeworks from $22.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday, June 5th. Wells Fargo & Co boosted their price objective on Zymeworks from $20.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, June 4th. ValuEngine upgraded Zymeworks from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Finally, Canaccord Genuity boosted their price objective on Zymeworks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 16th.
A number of hedge funds and other institutional investors have recently modified their holdings of ZYME. Stanley Laman Group Ltd. purchased a new stake in Zymeworks during the 1st quarter worth about $439,000. PenderFund Capital Management Ltd. acquired a new stake in shares of Zymeworks during the first quarter worth $5,360,000. Finally, Perceptive Advisors LLC boosted its holdings in shares of Zymeworks by 6.4% during the fourth quarter. Perceptive Advisors LLC now owns 777,497 shares of the company’s stock worth $5,549,000 after purchasing an additional 46,729 shares during the last quarter. Institutional investors own 8.09% of the company’s stock.
Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Tuesday, May 1st. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.15). The firm had revenue of $0.04 million during the quarter. Zymeworks had a negative net margin of 30.41% and a negative return on equity of 16.07%. sell-side analysts expect that Zymeworks will post -2.55 EPS for the current fiscal year.
Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidate is ZW25, a novel bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer.
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