Citigroup Increases Zymeworks (NYSE:ZYME) Price Target to $18.00

Zymeworks (NYSE:ZYME) had its target price boosted by stock analysts at Citigroup from $16.00 to $18.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 22.78% from the stock’s previous close.

Several other equities analysts also recently commented on ZYME. Stifel Nicolaus upped their price objective on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. HC Wainwright reiterated a “neutral” rating and set a $12.00 target price on shares of Zymeworks in a research note on Friday, November 1st. Finally, Wells Fargo & Company downgraded Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target for the company. in a research note on Friday, November 1st.

Zymeworks Stock Down 0.7 %

Shares of ZYME stock opened at $14.66 on Monday. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -9.84 and a beta of 1.16. Zymeworks has a 12-month low of $6.83 and a 12-month high of $15.00. The firm has a fifty day moving average of $12.65 and a 200-day moving average of $10.52.

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 company 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 firm’s revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company earned ($0.41) earnings per share. On average, equities analysts expect that Zymeworks will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale acquired a new stake in Zymeworks in the third quarter worth $47,000. nVerses Capital LLC bought a new stake in Zymeworks in the 3rd quarter valued at about $79,000. Quest Partners LLC boosted its holdings in Zymeworks by 8,049.6% in the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after acquiring an additional 9,096 shares in the last quarter. MQS Management LLC acquired a new stake in Zymeworks in the second quarter valued at approximately $92,000. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of Zymeworks during the first quarter valued at approximately $117,000. 92.89% of the stock is owned by institutional investors and hedge funds.

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.