Zymeworks Inc. (NYSE:ZYME) Receives $19.17 Average Price Target from Brokerages

Zymeworks Inc. (NYSE:ZYME) has been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $19.17.

A number of analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price target on shares of Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. HC Wainwright reiterated a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research note on Friday, November 22nd. Finally, 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 research note on Monday, December 16th.

Zymeworks Trading Up 0.1 %

Zymeworks stock opened at $14.51 on Friday. Zymeworks has a 1-year low of $7.97 and a 1-year high of $17.70. The firm has a market capitalization of $999.42 million, a price-to-earnings ratio of -9.67 and a beta of 1.12. The firm has a 50 day simple moving average of $14.27 and a 200 day simple moving average of $12.07.

Zymeworks (NYSE:ZYME) last issued its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.01. The firm had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.41) earnings per share. On average, equities research analysts forecast that Zymeworks will post -1.43 EPS for the current year.

Insider Buying and Selling

In other news, Director Ecor1 Capital, Llc bought 11,958 shares of the stock in a transaction dated Tuesday, December 24th. The shares were acquired at an average cost of $14.12 per share, with a total value of $168,846.96. Following the purchase, the director now directly owns 14,704,239 shares in the company, valued at $207,623,854.68. The trade was a 0.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.92% of the stock is currently owned by company insiders.

Institutional Trading of Zymeworks

Institutional investors have recently made changes to their positions in the company. FMR LLC raised its stake 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 purchasing an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Zymeworks during the 3rd quarter worth approximately $47,000. Quest Partners LLC raised its position 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 valued at $78,000 after buying an additional 9,096 shares during the period. nVerses Capital LLC acquired a new position in Zymeworks in the third quarter valued at approximately $79,000. Finally, MQS Management LLC purchased a new position in Zymeworks in the second quarter worth approximately $92,000. 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.