Zymeworks (NYSE:ZYME) PT Raised to $12.00

Zymeworks (NYSE:ZYME) had its target price increased by HC Wainwright from $10.00 to $12.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. HC Wainwright’s target price points to a potential downside of 3.77% from the stock’s current price.

Separately, Stifel Nicolaus upped their target price on shares of Zymeworks from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, August 2nd.

Zymeworks Stock Performance

ZYME stock opened at $12.47 on Wednesday. Zymeworks has a one year low of $6.01 and a one year high of $13.27. The firm has a market cap of $885.99 million, a PE ratio of -6.97 and a beta of 1.19. The firm’s 50 day moving average price is $11.23 and its 200-day moving average price is $9.93.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.01. The company had revenue of $19.24 million for the quarter, compared to the consensus estimate of $23.16 million. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. During the same quarter in the previous year, the business earned ($0.76) earnings per share. Equities research analysts predict that Zymeworks will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Zymeworks

A number of institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in Zymeworks during the 2nd quarter valued at about $1,683,000. Perceptive Advisors LLC boosted its stake in shares of Zymeworks by 55.2% in the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock valued at $14,192,000 after purchasing an additional 592,904 shares during the period. Susquehanna Fundamental Investments LLC boosted its stake in shares of Zymeworks by 8.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 59,523 shares of the company’s stock valued at $507,000 after purchasing an additional 4,444 shares during the period. The Manufacturers Life Insurance Company increased its stake in Zymeworks by 13.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,695 shares of the company’s stock worth $193,000 after buying an additional 2,653 shares during the period. Finally, Affinity Asset Advisors LLC acquired a new stake in Zymeworks during the 2nd quarter worth approximately $1,626,000. 92.89% of the stock is owned by institutional investors and hedge funds.

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.