Analysts Set Zymeworks Inc. (NYSE:ZYME) Target Price at $19.00

Shares of Zymeworks Inc. (NYSE:ZYME) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $19.00.

Several brokerages recently weighed in on ZYME. Stifel Nicolaus raised their target price on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 28th. HC Wainwright restated a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research report on Friday, November 1st. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and increased their target price for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. Citigroup upped their price target on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company cut Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 target price on the stock. in a report on Friday, November 1st.

Institutional Investors Weigh In On Zymeworks

Several hedge funds have recently bought and sold shares of the business. FMR LLC increased its holdings 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 acquired a new position in Zymeworks in the 3rd quarter valued at approximately $47,000. Quest Partners LLC lifted its position 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 in the last quarter. nVerses Capital LLC acquired a new stake in shares of Zymeworks during the 3rd quarter valued at $79,000. Finally, MQS Management LLC purchased a new position in shares of Zymeworks during the 2nd quarter valued at $92,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Trading Down 5.5 %

ZYME stock opened at $16.26 on Friday. The firm’s 50-day moving average is $13.43 and its two-hundred day moving average is $10.93. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -10.84 and a beta of 1.16. Zymeworks has a 52 week low of $7.54 and a 52 week high of $17.70.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01. The firm had revenue of $16.00 million for 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 quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.41) earnings per share. On average, equities research analysts predict that Zymeworks will post -1.01 earnings per share for the current year.

About Zymeworks

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.