Zymeworks (NYSE:ZYME) Rating Increased to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of Zymeworks (NYSE:ZYME) from a hold rating to a strong-buy rating in a report released on Thursday,Zacks.com reports. Leerink Partnrs also issued estimates for Zymeworks’ Q4 2024 earnings at $0.70 EPS.

A number of other analysts also recently issued reports on ZYME. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a report on Friday, November 1st. Wells Fargo & Company downgraded shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target for the company. in a research note on Friday, November 1st. Stifel Nicolaus raised their price objective on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Citigroup lifted their price objective on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and increased their target price for the company from $10.00 to $25.00 in a report on Thursday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Zymeworks Price Performance

Shares of NYSE:ZYME opened at $16.63 on Thursday. The firm has a fifty day moving average price of $13.00 and a two-hundred day moving average price of $10.72. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -11.09 and a beta of 1.16. Zymeworks has a one year low of $6.83 and a one year high of $17.26.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data 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. The company had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.41) earnings per share. Equities research analysts expect that Zymeworks will post -1.01 EPS for the current fiscal year.

Institutional Trading of Zymeworks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZYME. DekaBank Deutsche Girozentrale purchased a new stake in Zymeworks in the third quarter worth about $47,000. Quest Partners LLC lifted its holdings in shares of Zymeworks by 8,049.6% during 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 last quarter. nVerses Capital LLC bought a new stake in shares of Zymeworks in the 3rd quarter worth approximately $79,000. MQS Management LLC purchased a new stake in shares of Zymeworks in the 2nd quarter worth approximately $92,000. Finally, Arizona State Retirement System increased its position in Zymeworks by 11.1% during the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after buying an additional 1,285 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.