Zymeworks (NYSE:ZYME) Trading Up 6.4%

Zymeworks Inc (NYSE:ZYME) was up 6.4% during trading on Tuesday . The stock traded as high as $42.63 and last traded at $42.20, approximately 952,160 shares traded hands during trading. An increase of 305% from the average daily volume of 235,140 shares. The stock had previously closed at $39.66.

Several research analysts have recently commented on ZYME shares. JPMorgan Chase & Co. started coverage on Zymeworks in a report on Monday. They set a “neutral” rating and a $43.00 price objective for the company. Raymond James boosted their price objective on Zymeworks from $40.00 to $60.00 and gave the stock a “strong-buy” rating in a report on Monday, November 25th. Stifel Nicolaus reissued a “buy” rating on shares of Zymeworks in a report on Thursday, November 21st. HC Wainwright started coverage on Zymeworks in a report on Monday, November 25th. They set a “buy” rating and a $65.00 price objective for the company. Finally, Citigroup boosted their price objective on Zymeworks from $22.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $42.45.

The firm has a market cap of $1.56 billion, a PE ratio of -34.02 and a beta of 1.54. The company has a 50 day simple moving average of $37.84 and a 200-day simple moving average of $27.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.81 and a quick ratio of 6.81.

Zymeworks (NYSE:ZYME) last issued its earnings results on Tuesday, November 5th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.76) by $0.06. The business had revenue of $7.86 million during the quarter, compared to analyst estimates of $7.77 million. Zymeworks had a negative return on equity of 25.72% and a negative net margin of 112.95%. On average, sell-side analysts predict that Zymeworks Inc will post -2.79 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Truvestments Capital LLC boosted its stake in Zymeworks by 100.0% in the third quarter. Truvestments Capital LLC now owns 1,000 shares of the company’s stock worth $25,000 after buying an additional 500 shares in the last quarter. BlackRock Inc. boosted its stake in Zymeworks by 42.3% in the second quarter. BlackRock Inc. now owns 1,679 shares of the company’s stock worth $37,000 after buying an additional 499 shares in the last quarter. Advisor Group Inc. boosted its stake in Zymeworks by 42.7% in the second quarter. Advisor Group Inc. now owns 1,806 shares of the company’s stock worth $40,000 after buying an additional 540 shares in the last quarter. HWG Holdings LP boosted its stake in Zymeworks by 181.2% in the third quarter. HWG Holdings LP now owns 1,732 shares of the company’s stock worth $43,000 after buying an additional 1,116 shares in the last quarter. Finally, Cutler Group LP boosted its stake in Zymeworks by 1,050.0% in the third quarter. Cutler Group LP now owns 2,300 shares of the company’s stock worth $57,000 after buying an additional 2,100 shares in the last quarter. 54.28% of the stock is owned by institutional investors and hedge funds.

Zymeworks Company Profile (NYSE:ZYME)

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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