Zymeworks (ZYME) Earns “Buy” Rating from Raymond James

Zymeworks (NYSE:ZYME)‘s stock had its “buy” rating restated by research analysts at Raymond James in a research note issued on Wednesday. They presently have a $27.00 target price on the stock. Raymond James’ price target indicates a potential upside of 90.54% from the stock’s previous close.

A number of other research firms have also recently issued reports on ZYME. Citigroup cut shares of Zymeworks from a “buy” rating to a “neutral” rating in a report on Wednesday, June 6th. Canaccord Genuity upped their price target on shares of Zymeworks from $18.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 16th. ValuEngine upgraded shares of Zymeworks from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Wells Fargo & Co upped their price target on shares of Zymeworks from $20.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, June 4th. Finally, LADENBURG THALM/SH SH started coverage on shares of Zymeworks in a report on Monday, May 14th. They set a “buy” rating and a $25.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Zymeworks has an average rating of “Buy” and an average target price of $21.68.

Shares of NYSE:ZYME opened at $14.17 on Wednesday. The firm has a market capitalization of $452.74 million, a P/E ratio of -24.86 and a beta of 4.63. Zymeworks has a 1 year low of $6.76 and a 1 year high of $29.00.



Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Wednesday, August 1st. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.36. The firm had revenue of $22.00 million during the quarter, compared to analysts’ expectations of $22.00 million. Zymeworks had a negative net margin of 14.66% and a negative return on equity of 8.83%. analysts anticipate that Zymeworks will post -2.43 EPS for the current fiscal year.

In other Zymeworks news, major shareholder Eli & Co Lilly sold 6,429 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $14.32, for a total transaction of $92,063.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Zymeworks during the second quarter valued at about $101,000. Stanley Laman Group Ltd. acquired a new position in shares of Zymeworks during the first quarter valued at about $439,000. Raymond James & Associates acquired a new position in shares of Zymeworks during the second quarter valued at about $578,000. Millennium Management LLC acquired a new position in shares of Zymeworks during the second quarter valued at about $1,442,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Zymeworks during the second quarter valued at about $1,478,000. 6.01% of the stock is owned by institutional investors and hedge funds.

About Zymeworks

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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Analyst Recommendations for Zymeworks (NYSE:ZYME)

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