Zymeworks Inc. (NYSE:ZYME) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Zymeworks Inc. (NYSE:ZYME) have received an average rating of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $19.17.

A number of research analysts have issued reports on ZYME shares. Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Citigroup raised their target price on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. HC Wainwright reiterated a “neutral” rating and set a $12.00 price target on shares of Zymeworks in a research note on Friday, November 22nd. Stifel Nicolaus raised their price objective on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price on the stock in a research report on Monday, December 16th.

Insider Buying and Selling

In related news, Director Ecor1 Capital, Llc bought 19,748 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was acquired at an average price of $13.87 per share, with a total value of $273,904.76. Following the completion of the purchase, the director now directly owns 15,720,161 shares of the company’s stock, valued at approximately $218,038,633.07. This trade represents a 0.13 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Andrew Moore sold 21,200 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $14.92, for a total transaction of $316,304.00. Following the completion of the transaction, the insider now directly owns 14,741 shares in the company, valued at $219,935.72. This represents a 58.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 603,539 shares of company stock valued at $8,384,708 and sold 89,601 shares valued at $1,336,847. 1.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after acquiring an additional 1,525 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Zymeworks during the 3rd quarter valued at about $47,000. nVerses Capital LLC purchased a new stake in shares of Zymeworks in the third quarter valued at about $79,000. XTX Topco Ltd acquired a new stake in Zymeworks during the second quarter worth about $121,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Zymeworks by 64.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,665 shares of the company’s stock worth $171,000 after purchasing an additional 5,359 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Trading Up 3.0 %

NYSE ZYME opened at $14.29 on Wednesday. Zymeworks has a 12-month low of $7.97 and a 12-month high of $17.70. The firm’s fifty day simple moving average is $14.17 and its two-hundred day simple moving average is $12.75. The firm has a market capitalization of $984.27 million, a P/E ratio of -9.53 and a beta of 1.10.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.01. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company had revenue of $16.00 million for the quarter, compared to analyst estimates of $17.90 million. During the same period in the prior year, the company posted ($0.41) EPS. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts predict that Zymeworks will post -1.39 earnings per share for the current fiscal year.

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.