Zymeworks (NYSE:ZYME) Price Target Raised to $14.00

Zymeworks (NYSE:ZYME) had its price target boosted by Wells Fargo & Company from $12.00 to $14.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts also recently weighed in on the stock. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. 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 report on Monday, October 28th. JPMorgan Chase & Co. raised shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target on the stock in a report on Monday, December 16th. Finally, HC Wainwright reiterated a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Zymeworks currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.17.

Zymeworks Trading Up 4.1 %

NYSE:ZYME opened at $14.14 on Thursday. The company has a market capitalization of $973.93 million, a P/E ratio of -9.43 and a beta of 1.12. 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 $14.19 and a 200-day simple moving average of $11.85.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. The company had revenue of $16.00 million during the quarter, compared to analysts’ expectations 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 revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.41) EPS. Equities analysts forecast that Zymeworks will post -1.43 EPS for the current year.

Hedge Funds Weigh In On Zymeworks

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its stake in shares of Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after purchasing an additional 1,525 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Zymeworks in the 3rd quarter valued at about $47,000. Quest Partners LLC boosted its holdings in Zymeworks by 8,049.6% in the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after buying an additional 9,096 shares during the last quarter. nVerses Capital LLC purchased a new stake in Zymeworks during the 3rd quarter worth approximately $79,000. Finally, MQS Management LLC acquired a new position in shares of Zymeworks during the second quarter valued at approximately $92,000. Hedge funds and other institutional investors 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.