Zymeworks Inc. (NYSE:ZYME) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Zymeworks Inc. (NYSE:ZYME) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $19.17.

ZYME has been the topic of a number of recent analyst reports. Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. HC Wainwright reiterated a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a report on Friday, November 22nd. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective for the company in a research report on Monday, December 16th. Finally, Citigroup upped their target price on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Insider Transactions at Zymeworks

In other Zymeworks news, Director Ecor1 Capital, Llc purchased 11,958 shares of the stock in a transaction on Tuesday, December 24th. The shares were bought at an average cost of $14.12 per share, with a total value of $168,846.96. Following the completion of the acquisition, the director now owns 14,704,239 shares in the company, valued at $207,623,854.68. This trade represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.92% of the company’s stock.

Hedge Funds Weigh In On Zymeworks

A number of institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after acquiring an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Zymeworks in the 3rd quarter worth approximately $47,000. Quest Partners LLC grew its stake in shares of Zymeworks by 8,049.6% during the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after purchasing an additional 9,096 shares during the period. nVerses Capital LLC purchased a new position in shares of Zymeworks during the 3rd quarter valued at approximately $79,000. Finally, MQS Management LLC acquired a new position in shares of Zymeworks in the 2nd quarter valued at $92,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Stock Performance

Zymeworks stock opened at $14.50 on Friday. Zymeworks has a fifty-two week low of $7.97 and a fifty-two week high of $17.70. The company has a market capitalization of $998.73 million, a PE ratio of -9.67 and a beta of 1.12. The company has a 50 day moving average price of $14.25 and a 200-day moving average price of $12.00.

Zymeworks (NYSE:ZYME) last released 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 for 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 company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm earned ($0.41) earnings per share. On average, analysts forecast that Zymeworks will post -1.43 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.