Zymeworks Inc. (NYSE:ZYME) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Zymeworks Inc. (NYSE:ZYME) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $19.00.

Several research analysts recently weighed in on ZYME shares. Stifel Nicolaus upped their price objective on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. HC Wainwright reiterated a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a report on Friday, November 22nd. Citigroup boosted their price objective on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company lowered shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 target price on the stock. in a research note on Friday, November 1st.

Institutional Trading of Zymeworks

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in Zymeworks by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after purchasing an additional 650 shares during the period. California State Teachers Retirement System grew its holdings in shares of Zymeworks by 2.9% in the 1st quarter. California State Teachers Retirement System now owns 43,420 shares of the company’s stock valued at $457,000 after buying an additional 1,215 shares during the period. Arizona State Retirement System increased its position in shares of Zymeworks by 11.1% in the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after buying an additional 1,285 shares in the last quarter. FMR LLC raised its stake in Zymeworks by 84.2% during the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after buying an additional 1,525 shares during the period. Finally, Stifel Financial Corp lifted its holdings in Zymeworks by 2.1% during the third quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after acquiring an additional 1,540 shares in the last quarter. 92.89% of the stock is owned by institutional investors.

Zymeworks Stock Performance

Shares of ZYME stock opened at $14.50 on Tuesday. The stock’s fifty day moving average is $13.90 and its 200-day moving average is $11.39. Zymeworks has a 52 week low of $7.97 and a 52 week high of $17.70. The stock has a market capitalization of $998.76 million, a PE ratio of -9.67 and a beta of 1.12.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. During the same quarter last year, the company posted ($0.41) EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, analysts forecast that Zymeworks will post -1.22 earnings per share for the current fiscal year.

About Zymeworks

Zymeworks Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company’s lead product candidates include zanidatamab, a human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.