Zymeworks (NYSE:ZYME) Price Target Raised to $14.00

Zymeworks (NYSE:ZYME) had its target price boosted by Wells Fargo & Company from $12.00 to $14.00 in a research note published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also weighed in on the company. Citigroup raised their price objective on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a report on Monday, December 16th. Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. Stifel Nicolaus increased their target price on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Zymeworks presently has an average rating of “Moderate Buy” and a consensus price target of $19.17.

Zymeworks Price Performance

ZYME opened at $14.14 on Thursday. The business has a 50 day simple moving average of $14.19 and a two-hundred day simple moving average of $11.85. The firm has a market capitalization of $973.93 million, a price-to-earnings ratio of -9.43 and a beta of 1.12. Zymeworks has a one year low of $7.97 and a one year high of $17.70.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.01. The business 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 revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. As a group, sell-side analysts expect that Zymeworks will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Zymeworks

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in Zymeworks by 84.2% in the third 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 last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Zymeworks in the 3rd quarter valued at about $47,000. Quest Partners LLC grew its position in shares of 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 during the last quarter. nVerses Capital LLC bought a new position in shares of Zymeworks during the 3rd quarter worth approximately $79,000. Finally, MQS Management LLC purchased a new stake in Zymeworks during the second quarter valued at approximately $92,000. 92.89% of the stock is currently owned by institutional investors.

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.