Zymeworks (NYSE:ZYME) Given Neutral Rating at HC Wainwright

HC Wainwright restated their neutral rating on shares of Zymeworks (NYSE:ZYME) in a research note published on Friday,Benzinga reports. They currently have a $12.00 price target on the stock.

Other analysts have also recently issued reports about the company. Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Citigroup boosted their target price on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus raised their price target on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lowered Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 target price for the company. in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Zymeworks Stock Down 0.6 %

Shares of ZYME stock opened at $14.20 on Friday. Zymeworks has a 12-month low of $7.97 and a 12-month high of $17.70. The company has a market capitalization of $978.10 million, a PE ratio of -9.47 and a beta of 1.16. The firm has a 50 day moving average price of $13.74 and a two-hundred day moving average price of $11.20.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The firm had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.41) EPS. As a group, research analysts expect that Zymeworks will post -1.08 EPS for the current year.

Institutional Trading of Zymeworks

Institutional investors have recently added to or reduced their stakes in the stock. Rubric Capital Management LP lifted its stake in Zymeworks by 12.7% during the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after purchasing an additional 441,947 shares during the last quarter. Vanguard Group Inc. lifted its position in Zymeworks by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,458,105 shares of the company’s stock worth $25,859,000 after buying an additional 63,393 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Zymeworks by 0.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock worth $24,416,000 after buying an additional 14,604 shares in the last quarter. Perceptive Advisors LLC grew its position in Zymeworks by 55.2% during the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock valued at $14,192,000 after acquiring an additional 592,904 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Zymeworks by 6.1% during the third quarter. State Street Corp now owns 1,171,777 shares of the company’s stock worth $14,706,000 after acquiring an additional 67,401 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.