Zymeworks (NYSE:ZYME) Raised to Strong-Buy at Leerink Partnrs

Zymeworks (NYSE:ZYME) was upgraded by Leerink Partnrs from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports. Leerink Partnrs also issued estimates for Zymeworks’ Q4 2024 earnings at $0.70 EPS.

Several other brokerages also recently weighed in on ZYME. Stifel Nicolaus upped their price target on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Citigroup upped their target price on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company downgraded shares of 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. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $10.00 to $25.00 in a report on Thursday. Finally, 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. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Zymeworks Stock Down 0.8 %

Shares of ZYME opened at $16.63 on Thursday. The stock has a fifty day simple moving average of $13.00 and a two-hundred day simple moving average of $10.69. Zymeworks has a 52-week low of $6.83 and a 52-week high of $17.26. The company has a market capitalization of $1.15 billion, a PE ratio of -11.09 and a beta of 1.16.

Zymeworks (NYSE:ZYME) last announced its earnings results 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. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company had revenue of $16.00 million for the quarter, compared to analyst estimates of $17.90 million. During the same quarter in the previous year, the company earned ($0.41) earnings per share. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Zymeworks will post -1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ZYME. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Zymeworks in the 1st quarter valued at about $6,301,000. Perceptive Advisors LLC increased its stake in shares of Zymeworks by 55.2% during the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock worth $14,192,000 after purchasing an additional 592,904 shares in the last quarter. Rubric Capital Management LP raised its position in shares of Zymeworks by 12.7% during the 2nd 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. Dimensional Fund Advisors LP lifted its stake in Zymeworks by 127.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock valued at $6,090,000 after buying an additional 401,068 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Zymeworks by 94.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 716,482 shares of the company’s stock valued at $7,537,000 after buying an additional 348,441 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.