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

Shares of Zymeworks Inc. (NYSE:ZYME) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $19.17.

Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company upped their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. HC Wainwright restated a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a report on Friday, November 22nd. Stifel Nicolaus upped their target price on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th.

Zymeworks Price Performance

ZYME stock opened at $14.59 on Wednesday. Zymeworks has a 1 year low of $7.97 and a 1 year high of $17.70. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -9.73 and a beta of 1.10. The company has a 50 day simple moving average of $14.08 and a 200 day simple moving average of $12.86.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The firm had revenue of $16.00 million for the quarter, compared to analyst estimates of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the firm posted ($0.41) earnings per share. On average, equities research analysts anticipate that Zymeworks will post -1.39 EPS for the current fiscal year.

Insider Activity at Zymeworks

In other news, Director Ecor1 Capital, Llc acquired 19,748 shares of Zymeworks stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average price of $13.87 per share, with a total value of $273,904.76. Following the completion of the purchase, the director now owns 15,720,161 shares in the company, valued at approximately $218,038,633.07. The trade was a 0.13 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffrey T. L. Smith sold 11,110 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $14.92, for a total value of $165,761.20. Following the completion of the sale, the executive vice president now owns 8,890 shares in the company, valued at $132,638.80. This trade represents a 55.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have bought 603,539 shares of company stock worth $8,384,708 and have sold 89,601 shares worth $1,336,847. 1.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zymeworks

A number of large investors have recently added to or reduced their stakes in ZYME. Point72 Asset Management L.P. bought a new position in shares of Zymeworks during the second quarter valued at about $1,683,000. State Street Corp increased its stake in shares of Zymeworks by 6.1% during the third quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after buying an additional 67,401 shares during the period. Barclays PLC raised its holdings in shares of Zymeworks by 476.3% during the third quarter. Barclays PLC now owns 154,384 shares of the company’s stock valued at $1,937,000 after acquiring an additional 127,595 shares in the last quarter. Vestal Point Capital LP lifted its stake in Zymeworks by 39.8% in the third quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock worth $7,718,000 after acquiring an additional 175,000 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Zymeworks by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock valued at $9,403,000 after acquiring an additional 311,107 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Company Profile

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.