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

Shares of Zymeworks Inc. (NYSE:ZYME) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $19.00.

A number of analysts have issued reports on ZYME shares. Citigroup boosted their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $10.00 to $25.00 in a report on Thursday. Wells Fargo & Company cut shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price objective for the company. in a research report on Friday, November 1st. Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Finally, HC Wainwright reiterated a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research report on Friday, November 1st.

Hedge Funds Weigh In On Zymeworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale acquired a new stake in shares of Zymeworks during the third quarter worth $47,000. nVerses Capital LLC acquired a new stake in shares of Zymeworks during the third quarter worth $79,000. Quest Partners LLC increased its position in shares of Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after buying an additional 9,096 shares during the period. MQS Management LLC acquired a new stake in shares of Zymeworks during the second quarter worth $92,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of Zymeworks during the first quarter worth $117,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Zymeworks Stock Performance

Shares of ZYME opened at $16.77 on Friday. Zymeworks has a 52 week low of $6.83 and a 52 week high of $17.26. The firm has a market cap of $1.16 billion, a P/E ratio of -11.18 and a beta of 1.16. The firm’s 50-day simple moving average is $12.90 and its 200 day simple moving average is $10.64.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The firm had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.41) EPS. As a group, equities analysts forecast that Zymeworks will post -1.05 earnings per share for the current 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.