Analysts Set Zymeworks Inc. (NYSE:ZYME) Price Target at $21.00

Shares of Zymeworks Inc. (NYSE:ZYME) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $21.00.

ZYME has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a report on Monday, December 16th. Wells Fargo & Company raised their target price on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. HC Wainwright lifted their target price on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, March 10th. Citigroup increased their price target on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Finally, Lifesci Capital started coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price objective for the company.

Insider Buying and Selling at Zymeworks

In other news, Director Ecor1 Capital, Llc purchased 16,692 shares of the stock in a transaction on Thursday, December 26th. The shares were acquired at an average price of $14.38 per share, for a total transaction of $240,030.96. Following the completion of the transaction, the director now directly owns 14,720,931 shares of the company’s stock, valued at approximately $211,686,987.78. This trade represents a 0.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kenneth Galbraith sold 57,291 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $14.92, for a total value of $854,781.72. Following the completion of the transaction, the chief executive officer now owns 47,543 shares of the company’s stock, valued at $709,341.56. The trade was a 54.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 1,507,168 shares of company stock worth $19,339,774 and sold 89,601 shares worth $1,336,847. 1.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its stake in shares of Zymeworks by 781.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock valued at $25,000 after purchasing an additional 1,524 shares in the last quarter. AlphaQuest LLC lifted its stake in Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after purchasing an additional 2,324 shares during the last quarter. FMR LLC boosted its position in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after buying an additional 1,525 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Zymeworks during the fourth quarter valued at about $108,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Zymeworks by 343.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company’s stock worth $142,000 after buying an additional 7,518 shares during the period. 92.89% of the stock is currently owned by institutional investors.

Zymeworks Trading Up 3.6 %

ZYME opened at $12.79 on Thursday. Zymeworks has a 12 month low of $7.97 and a 12 month high of $17.70. The company has a market cap of $889.89 million, a PE ratio of -8.53 and a beta of 1.13. The company has a 50 day moving average of $13.76 and a 200 day moving average of $13.68.

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.