Zymeworks Inc. (NYSE:ZYME) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Zymeworks Inc. (NYSE:ZYME) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.17.

Several research firms have recently commented on ZYME. Stifel Nicolaus upped their price target 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. Leerink Partners upgraded 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 research note on Thursday, November 7th. Citigroup upped their price target on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. 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, Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th.

Zymeworks Stock Performance

ZYME opened at $14.29 on Wednesday. The company’s 50-day simple moving average is $14.17 and its two-hundred day simple moving average is $12.75. The stock has a market capitalization of $984.27 million, a P/E ratio of -9.53 and a beta of 1.10. Zymeworks has a 52-week low of $7.97 and a 52-week high of $17.70.

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 company 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 firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.41) earnings per share. Research analysts forecast that Zymeworks will post -1.39 EPS for the current fiscal year.

Insider Transactions at Zymeworks

In other news, Director Ecor1 Capital, Llc acquired 11,958 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were acquired at an average price of $14.12 per share, for a total transaction of $168,846.96. Following the completion of the transaction, the director now directly owns 14,704,239 shares of the company’s stock, valued at approximately $207,623,854.68. The trade was a 0.08 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey T. L. Smith sold 11,110 shares of Zymeworks stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $14.92, for a total transaction of $165,761.20. Following the transaction, the executive vice president now directly owns 8,890 shares of the company’s stock, valued at approximately $132,638.80. This represents a 55.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 603,539 shares of company stock valued at $8,384,708 and have sold 89,601 shares valued at $1,336,847. Insiders own 1.92% of the company’s stock.

Institutional Trading of Zymeworks

Institutional investors have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Zymeworks by 0.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock worth $24,416,000 after acquiring an additional 14,604 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in Zymeworks by 55.2% during the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock worth $14,192,000 after buying an additional 592,904 shares during the period. State Street Corp boosted its position in Zymeworks by 6.1% during the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after acquiring an additional 67,401 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 acquiring an additional 401,068 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Zymeworks by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock worth $9,403,000 after acquiring an additional 311,107 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

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.