HC Wainwright Increases Zymeworks (NYSE:ZYME) Price Target to $12.00

Zymeworks (NYSE:ZYME) had its price objective increased by investment analysts at HC Wainwright from $10.00 to $12.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. HC Wainwright’s target price points to a potential downside of 3.77% from the stock’s current price.

Separately, Stifel Nicolaus boosted their target price on Zymeworks from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd.

Zymeworks Trading Down 0.3 %

Shares of NYSE:ZYME opened at $12.47 on Wednesday. Zymeworks has a 52 week low of $6.01 and a 52 week high of $13.27. The company’s 50 day moving average is $11.23 and its two-hundred day moving average is $9.93. The company has a market cap of $885.99 million, a PE ratio of -6.97 and a beta of 1.19.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.01. The firm had revenue of $19.24 million for the quarter, compared to analyst estimates of $23.16 million. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. During the same quarter in the prior year, the company posted ($0.76) earnings per share. As a group, equities research analysts expect that Zymeworks will post -0.85 EPS for the current year.

Hedge Funds Weigh In On Zymeworks

Several large investors have recently bought and sold shares of ZYME. Rubric Capital Management LP increased its position in shares of Zymeworks by 31.1% during the fourth quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock worth $36,109,000 after purchasing an additional 823,990 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Zymeworks during the first quarter worth approximately $579,000. O Shaughnessy Asset Management LLC lifted its stake in Zymeworks by 51.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 255,497 shares of the company’s stock valued at $2,688,000 after buying an additional 86,797 shares during the last quarter. AlphaMark Advisors LLC purchased a new stake in Zymeworks in the first quarter valued at approximately $32,000. Finally, Affinity Asset Advisors LLC acquired a new stake in shares of Zymeworks in the second quarter valued at approximately $1,626,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.