Zymeworks (NYSE:ZYME) Price Target Raised to $18.00

Zymeworks (NYSE:ZYME) had its target price lifted by Citigroup from $16.00 to $18.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently commented on the company. HC Wainwright restated a “neutral” rating and set a $12.00 price target on shares of Zymeworks in a research note on Friday, November 1st. Stifel Nicolaus raised their target price 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. Finally, Wells Fargo & Company lowered shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target on the stock. in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Zymeworks presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Zymeworks Stock Up 7.4 %

NYSE:ZYME opened at $16.77 on Monday. The company has a market capitalization of $1.19 billion, a PE ratio of -11.18 and a beta of 1.16. Zymeworks has a 52-week low of $6.83 and a 52-week high of $17.26. The stock’s 50 day moving average price is $12.90 and its 200 day moving average price is $10.64.

Zymeworks (NYSE:ZYME) last announced 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. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $16.00 million for the quarter, compared to analyst estimates of $17.90 million. During the same period last year, the firm posted ($0.41) earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zymeworks will post -0.94 EPS for the current fiscal year.

Institutional Trading of Zymeworks

Several hedge funds and other institutional investors have recently made changes to their positions in ZYME. DekaBank Deutsche Girozentrale purchased a new position in Zymeworks in the third quarter valued at about $47,000. nVerses Capital LLC purchased a new position in Zymeworks in the 3rd quarter valued at approximately $79,000. Quest Partners LLC raised its holdings in 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 purchasing an additional 9,096 shares during the last quarter. MQS Management LLC purchased a new stake in Zymeworks during the second quarter worth $92,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in Zymeworks in the first quarter valued at $117,000. 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.