HC Wainwright Reiterates “Neutral” Rating for Zymeworks (NYSE:ZYME)

Zymeworks (NYSE:ZYME)‘s stock had its “neutral” rating reiterated by equities researchers at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $12.00 target price on the stock. HC Wainwright’s price target points to a potential downside of 16.03% from the stock’s previous close.

A number of other research firms have also recently commented on ZYME. Citigroup boosted their price target on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. Stifel Nicolaus upped their target price on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Wells Fargo & Company cut Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 target price for the company. in a report on Friday, November 1st. Finally, Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Zymeworks currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Zymeworks Stock Up 4.5 %

ZYME stock opened at $14.29 on Friday. Zymeworks has a twelve month low of $7.97 and a twelve month high of $17.70. The stock has a market cap of $984.30 million, a P/E ratio of -9.53 and a beta of 1.16. The business’s 50-day moving average price is $13.74 and its 200-day moving average price is $11.19.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping 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 business had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. During the same quarter in the prior year, the business posted ($0.41) EPS. Zymeworks’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities research analysts expect that Zymeworks will post -1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zymeworks

A number of hedge funds have recently added to or reduced their stakes in ZYME. FMR LLC boosted its stake in shares of Zymeworks by 84.2% during 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 in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Zymeworks in the 3rd quarter worth $47,000. nVerses Capital LLC purchased a new stake in shares of Zymeworks during the 3rd quarter worth $79,000. Quest Partners LLC grew its stake in Zymeworks by 8,049.6% in the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after purchasing an additional 9,096 shares during the last quarter. Finally, MQS Management LLC purchased a new position in Zymeworks in the second quarter valued at about $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.