Zymeworks (NYSE:ZYME) Upgraded at Leerink Partners

Leerink Partners upgraded shares of Zymeworks (NYSE:ZYME) from a market perform rating to an outperform rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has $25.00 price objective on the stock, up from their prior price objective of $10.00.

Several other research analysts have also issued reports on ZYME. Wells Fargo & Company lowered Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price objective for the company. in a research note on Friday, November 1st. Stifel Nicolaus lifted their price target on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research note on Friday, November 1st. Finally, Citigroup lifted their target price on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Zymeworks Stock Performance

NYSE:ZYME opened at $16.63 on Thursday. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -11.09 and a beta of 1.16. The company has a 50-day moving average of $13.00 and a 200-day moving average of $10.71. Zymeworks has a 52 week low of $6.83 and a 52 week high of $17.26.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. During the same quarter last year, the company earned ($0.41) earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Sell-side analysts forecast that Zymeworks will post -1.05 EPS for the current year.

Institutional Trading of Zymeworks

Several hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC acquired a new position in Zymeworks during the 3rd quarter worth $266,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Zymeworks by 0.8% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock valued at $24,416,000 after acquiring an additional 14,604 shares during the period. Empowered Funds LLC boosted its holdings in Zymeworks by 5.3% in the third quarter. Empowered Funds LLC now owns 335,661 shares of the company’s stock valued at $4,213,000 after acquiring an additional 17,018 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Zymeworks by 64.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,665 shares of the company’s stock worth $171,000 after purchasing an additional 5,359 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in Zymeworks during the 3rd quarter worth about $47,000. 92.89% of the stock is owned by institutional investors.

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.