Zymeworks (NYSE:ZYME) Price Target Raised to $28.00

Zymeworks (NYSE:ZYME) had its target price boosted by Stifel Nicolaus from $21.00 to $28.00 in a research report released on Monday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Separately, HC Wainwright reissued a “neutral” rating and set a $12.00 target price on shares of Zymeworks in a research note on Tuesday, October 22nd.

Zymeworks Price Performance

Shares of Zymeworks stock opened at $13.87 on Monday. The stock’s 50-day moving average is $12.44 and its 200 day moving average is $10.38. Zymeworks has a one year low of $6.79 and a one year high of $14.05. The firm has a market cap of $980.68 million, a price-to-earnings ratio of -7.75 and a beta of 1.20.

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

Institutional Investors Weigh In On Zymeworks

Hedge funds and other institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its stake in Zymeworks by 64.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,665 shares of the company’s stock valued at $171,000 after purchasing an additional 5,359 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Zymeworks during the third quarter valued at about $47,000. Assenagon Asset Management S.A. bought a new stake in shares of Zymeworks during the third quarter worth about $4,156,000. nVerses Capital LLC acquired a new stake in shares of Zymeworks in the 3rd quarter worth about $79,000. Finally, Ritholtz Wealth Management lifted its position in Zymeworks by 52.4% in the 3rd quarter. Ritholtz Wealth Management now owns 70,169 shares of the company’s stock valued at $881,000 after acquiring an additional 24,136 shares in the last quarter. 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.