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

Zymeworks Inc. (NYSE:ZYME) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $19.17.

Several brokerages recently weighed in on ZYME. Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Citigroup increased their price target on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company boosted their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. Finally, 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 research note on Monday, December 16th.

Insiders Place Their Bets

In related news, Director Ecor1 Capital, Llc purchased 16,692 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was bought at an average price of $14.38 per share, with a total value of $240,030.96. Following the completion of the transaction, the director now owns 14,720,931 shares of the company’s stock, valued at approximately $211,686,987.78. This represents a 0.11 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ZYME. FMR LLC increased its position in Zymeworks by 84.2% during the 3rd 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 stake in Zymeworks during the third quarter worth approximately $47,000. nVerses Capital LLC acquired a new stake in shares of Zymeworks in the third quarter worth $79,000. Quest Partners LLC raised its stake in shares of Zymeworks by 8,049.6% in the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after acquiring an additional 9,096 shares during the period. Finally, MQS Management LLC acquired a new position in shares of Zymeworks during the 2nd quarter valued at $92,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Price Performance

Shares of Zymeworks stock opened at $14.64 on Friday. The stock has a market capitalization of $1.01 billion, a P/E ratio of -9.76 and a beta of 1.12. The business has a 50 day simple moving average of $14.36 and a two-hundred day simple moving average of $12.17. Zymeworks has a 12 month low of $7.97 and a 12 month high of $17.70.

Zymeworks (NYSE:ZYME) last posted 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 net margin of 182.75% and a negative return on equity of 23.00%. The firm 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 posted ($0.41) earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, research analysts anticipate that Zymeworks will post -1.43 EPS 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.