Zymeworks (NYSE:ZYME) Given New $12.00 Price Target at HC Wainwright

Zymeworks (NYSE:ZYME) had its price target hoisted by HC Wainwright from $10.00 to $12.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Stifel Nicolaus lifted their price target on Zymeworks from $20.00 to $21.00 and gave the company a buy rating in a research note on Friday, August 2nd.

Zymeworks Trading Up 0.1 %

Shares of NYSE ZYME opened at $12.51 on Wednesday. The company has a market cap of $888.84 million, a price-to-earnings ratio of -6.99 and a beta of 1.19. Zymeworks has a 12 month low of $6.01 and a 12 month high of $13.27. The stock has a 50-day moving average price of $11.17 and a two-hundred day moving average price of $9.91.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.01. Zymeworks had a negative net margin of 179.42% and a negative return on equity of 21.97%. The company had revenue of $19.24 million during the quarter, compared to the consensus estimate of $23.16 million. During the same period in the prior year, the business earned ($0.76) earnings per share. On average, sell-side analysts predict that Zymeworks will post -0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ZYME. Rubric Capital Management LP raised its position in shares of Zymeworks by 31.1% during the fourth quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock worth $36,109,000 after acquiring an additional 823,990 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Zymeworks in the 1st quarter worth approximately $579,000. O Shaughnessy Asset Management LLC lifted its position in shares of Zymeworks by 51.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 255,497 shares of the company’s stock worth $2,688,000 after purchasing an additional 86,797 shares during the period. AlphaMark Advisors LLC bought a new stake in shares of Zymeworks in the 1st quarter valued at $32,000. Finally, Wellington Management Group LLP increased its position in shares of Zymeworks by 31.0% during the fourth quarter. Wellington Management Group LLP now owns 205,246 shares of the company’s stock worth $2,133,000 after buying an additional 48,564 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

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.