Zymeworks (NYSE:ZYME) Lowered to Sell at ValuEngine

Zymeworks (NYSE:ZYME) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, ValuEngine reports.

Other equities analysts also recently issued reports about the stock. Raymond James raised shares of Zymeworks from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $36.00 to $40.00 in a research note on Monday, September 30th. Deutsche Bank started coverage on shares of Zymeworks in a research note on Thursday, July 18th. They issued a “buy” rating and a $34.00 price target for the company. Barclays increased their price target on shares of Zymeworks from $15.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Stifel Nicolaus started coverage on shares of Zymeworks in a research note on Friday, August 30th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Zacks Investment Research raised shares of Zymeworks from a “sell” rating to a “hold” rating in a research note on Saturday, August 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Zymeworks currently has a consensus rating of “Buy” and a consensus price target of $35.25.

Shares of NYSE:ZYME traded up $0.63 during midday trading on Wednesday, hitting $25.59. 220,965 shares of the stock traded hands, compared to its average volume of 208,605. The stock has a market capitalization of $1.01 billion, a PE ratio of -20.31 and a beta of 1.34. The business’s 50 day moving average is $26.25 and its two-hundred day moving average is $21.35. The company has a quick ratio of 9.07, a current ratio of 9.07 and a debt-to-equity ratio of 0.02. Zymeworks has a one year low of $10.72 and a one year high of $29.75.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Friday, August 2nd. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.06). The firm had revenue of $7.88 million for the quarter, compared to the consensus estimate of $7.25 million. Zymeworks had a negative net margin of 102.78% and a negative return on equity of 24.44%. As a group, sell-side analysts forecast that Zymeworks will post -2.75 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Camber Capital Management LP increased its stake in shares of Zymeworks by 20.0% during the second quarter. Camber Capital Management LP now owns 2,600,000 shares of the company’s stock valued at $57,200,000 after purchasing an additional 434,000 shares in the last quarter. FMR LLC increased its stake in shares of Zymeworks by 331.4% during the first quarter. FMR LLC now owns 2,401,897 shares of the company’s stock valued at $38,863,000 after purchasing an additional 1,845,142 shares in the last quarter. Perceptive Advisors LLC increased its stake in shares of Zymeworks by 312.8% during the second quarter. Perceptive Advisors LLC now owns 2,368,890 shares of the company’s stock valued at $52,115,000 after purchasing an additional 1,795,000 shares in the last quarter. Farallon Capital Management LLC increased its stake in shares of Zymeworks by 11.5% during the second quarter. Farallon Capital Management LLC now owns 1,756,470 shares of the company’s stock valued at $38,642,000 after purchasing an additional 181,470 shares in the last quarter. Finally, Vivo Capital LLC increased its stake in shares of Zymeworks by 134.4% during the second quarter. Vivo Capital LLC now owns 1,453,467 shares of the company’s stock valued at $31,976,000 after purchasing an additional 833,333 shares in the last quarter. 49.91% of the stock is owned by institutional investors.

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 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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Analyst Recommendations for Zymeworks (NYSE:ZYME)

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