Zymeworks (NYSE:ZYME) Given “Neutral” Rating at HC Wainwright

HC Wainwright restated their neutral rating on shares of Zymeworks (NYSE:ZYME) in a research note issued to investors on Friday,Benzinga reports. HC Wainwright currently has a $12.00 price target on the stock.

Several other analysts have also recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Citigroup raised their target price on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. 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 report on Friday, November 1st. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and raised their target price for the company from $10.00 to $25.00 in a report on Thursday, November 7th. Finally, Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Zymeworks Stock Performance

NYSE ZYME opened at $14.29 on Friday. The firm has a 50-day moving average of $13.70 and a 200-day moving average of $11.14. Zymeworks has a 52-week low of $7.97 and a 52-week high of $17.70.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. The company had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. Zymeworks’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.41) EPS. As a group, sell-side analysts expect that Zymeworks will post -1.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC lifted its position in shares of Zymeworks by 476.3% in the 3rd quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after purchasing an additional 127,595 shares during the period. Jane Street Group LLC lifted its position in shares of Zymeworks by 27.3% in the 3rd quarter. Jane Street Group LLC now owns 80,326 shares of the company’s stock worth $1,008,000 after purchasing an additional 17,205 shares during the period. State Street Corp lifted its position in shares of Zymeworks by 6.1% in the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock worth $14,706,000 after purchasing an additional 67,401 shares during the period. Stifel Financial Corp lifted its position in shares of Zymeworks by 2.1% in the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after purchasing an additional 1,540 shares during the period. Finally, Vestal Point Capital LP lifted its position in shares of Zymeworks by 39.8% during the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock valued at $7,718,000 after acquiring an additional 175,000 shares during the period. Institutional investors and hedge funds 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.