Zymeworks’ (ZYME) Neutral Rating Reiterated at HC Wainwright

Zymeworks (NYSE:ZYME)‘s stock had its “neutral” rating reissued by equities researchers at HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $12.00 target price on the stock. HC Wainwright’s target price would indicate a potential downside of 16.03% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $10.00 to $25.00 in a research report on Thursday, November 7th. Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus boosted 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. Wells Fargo & Company cut 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. Finally, Citigroup lifted their target price on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Zymeworks has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Zymeworks Trading Up 4.5 %

NYSE:ZYME opened at $14.29 on Friday. The company has a market capitalization of $984.30 million, a P/E ratio of -9.53 and a beta of 1.16. Zymeworks has a 12 month low of $7.97 and a 12 month high of $17.70. The firm has a fifty day simple moving average of $13.74 and a 200-day simple moving average of $11.19.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping 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 the consensus estimate of $17.90 million. During the same period last year, the firm earned ($0.41) EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts forecast that Zymeworks will post -1.01 EPS for the current year.

Hedge Funds Weigh In On Zymeworks

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rubric Capital Management LP lifted its holdings in Zymeworks by 12.7% during the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after buying an additional 441,947 shares during the last quarter. Vanguard Group Inc. lifted its stake in Zymeworks by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,458,105 shares of the company’s stock worth $25,859,000 after purchasing an additional 63,393 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Zymeworks by 0.8% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock worth $24,416,000 after purchasing an additional 14,604 shares during the last quarter. Perceptive Advisors LLC boosted its holdings in 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 in the last quarter. Finally, State Street Corp increased its stake in Zymeworks by 6.1% in the third quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after purchasing an additional 67,401 shares during the last quarter. 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.