Zymeworks Inc (NYSE:ZYME) has been assigned a consensus recommendation of “Buy” from the eight analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $30.67.
A number of research analysts have recently issued reports on the stock. ValuEngine cut shares of Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Zacks Investment Research upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a report on Thursday, June 27th. Wells Fargo & Co boosted their price target on shares of Zymeworks from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Deutsche Bank started coverage on shares of Zymeworks in a report on Thursday, July 18th. They set a “buy” rating and a $34.00 price target on the stock. Finally, Barclays boosted their price target on shares of Zymeworks from $15.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th.
Shares of NYSE ZYME traded up $0.88 during mid-day trading on Thursday, reaching $25.00. 268,610 shares of the company’s stock traded hands, compared to its average volume of 191,882. The company has a market capitalization of $936.40 million, a PE ratio of -19.84 and a beta of 1.47. The business has a 50-day moving average of $23.65. Zymeworks has a 1-year low of $10.72 and a 1-year high of $25.97. The company has a debt-to-equity ratio of 0.02, a quick ratio of 9.07 and a current ratio of 9.07.
Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC purchased a new position in Zymeworks during the fourth quarter worth about $8,173,000. Taylor Wealth Management Partners purchased a new position in Zymeworks in the second quarter valued at about $1,763,000. Granite Investment Partners LLC boosted its stake in Zymeworks by 87.8% in the first quarter. Granite Investment Partners LLC now owns 27,277 shares of the company’s stock valued at $441,000 after acquiring an additional 12,750 shares during the last quarter. First Republic Investment Management Inc. purchased a new position in Zymeworks in the first quarter valued at about $548,000. Finally, Acadian Asset Management LLC boosted its stake in Zymeworks by 44.7% in the first quarter. Acadian Asset Management LLC now owns 164,135 shares of the company’s stock valued at $2,654,000 after acquiring an additional 50,736 shares during the last quarter. Institutional investors and hedge funds own 30.43% of the company’s stock.
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 candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.
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