Stifel Nicolaus Boosts Zymeworks (NYSE:ZYME) Price Target to $28.00

Zymeworks (NYSE:ZYME) had its price target boosted by Stifel Nicolaus from $21.00 to $28.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

Separately, HC Wainwright restated a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a report on Tuesday, October 22nd.

Zymeworks Price Performance

ZYME opened at $13.70 on Monday. The stock has a market cap of $968.66 million, a P/E ratio of -7.63 and a beta of 1.20. The stock’s 50 day simple moving average is $12.50 and its 200 day simple moving average is $10.40. Zymeworks has a 1-year low of $6.79 and a 1-year high of $14.05.

Zymeworks (NYSE:ZYME) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The business had revenue of $19.24 million for the quarter, compared to analysts’ expectations 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 prior year, the firm posted ($0.76) EPS. Research analysts expect that Zymeworks will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC purchased a new position in Zymeworks in the first quarter valued at about $32,000. DekaBank Deutsche Girozentrale purchased a new position in Zymeworks in the third quarter valued at about $47,000. Quest Partners LLC raised its position in Zymeworks by 8,049.6% in the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after purchasing an additional 9,096 shares during the period. nVerses Capital LLC purchased a new position in Zymeworks in the third quarter valued at about $79,000. Finally, MQS Management LLC purchased a new stake in shares of Zymeworks during the second quarter worth about $92,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.