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

Zymeworks Inc. (NYSE:ZYME) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $19.17.

ZYME has been the topic of several recent research reports. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective on the stock in a research report on Monday, December 16th. Citigroup boosted their target price on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus lifted their target price on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc purchased 11,958 shares of Zymeworks stock in a transaction that occurred on Tuesday, December 24th. The shares were acquired at an average price of $14.12 per share, for a total transaction of $168,846.96. Following the transaction, the director now directly owns 14,704,239 shares in the company, valued at approximately $207,623,854.68. This represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders acquired a total of 245,518 shares of company stock worth $3,595,901 over the last three months. 1.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zymeworks

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its stake in shares of Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after purchasing an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Zymeworks during the third quarter worth about $47,000. nVerses Capital LLC acquired a new stake in Zymeworks in the 3rd quarter valued at approximately $79,000. Quest Partners LLC lifted its stake in 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 in the last quarter. Finally, MQS Management LLC bought a new position in shares of Zymeworks during the 2nd quarter worth approximately $92,000. 92.89% of the stock is owned by institutional investors.

Zymeworks Price Performance

Shares of NYSE:ZYME opened at $15.01 on Friday. Zymeworks has a 1-year low of $7.97 and a 1-year high of $17.70. The business has a fifty day moving average price of $14.43 and a 200-day moving average price of $12.23. The company has a market capitalization of $1.03 billion, a PE ratio of -10.01 and a beta of 1.12.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. During the same quarter last year, the business posted ($0.41) earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Zymeworks will post -1.43 earnings per share 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.