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

Zymeworks (NYSE:ZYME)‘s stock had its “neutral” rating reissued by stock analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They currently have a $12.00 price target on the stock. HC Wainwright’s price target points to a potential downside of 8.88% from the company’s previous close.

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

Zymeworks Price Performance

NYSE:ZYME opened at $13.17 on Tuesday. Zymeworks has a one year low of $6.51 and a one year high of $14.05. The stock has a market cap of $931.18 million, a P/E ratio of -7.36 and a beta of 1.20. The company has a fifty day moving average price of $12.12 and a 200 day moving average price of $10.22.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ZYME. Wellington Management Group LLP boosted its stake in shares of Zymeworks by 31.0% in the 4th quarter. Wellington Management Group LLP now owns 205,246 shares of the company’s stock valued at $2,133,000 after purchasing an additional 48,564 shares during the last quarter. AlphaMark Advisors LLC acquired a new stake in Zymeworks during the 1st quarter worth approximately $32,000. Principal Financial Group Inc. acquired a new stake in Zymeworks during the 1st quarter worth approximately $273,000. Empowered Funds LLC raised its holdings in Zymeworks by 8.2% during the 1st quarter. Empowered Funds LLC now owns 295,783 shares of the company’s stock worth $3,112,000 after buying an additional 22,367 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Zymeworks by 12.8% in the first quarter. Swiss National Bank now owns 83,000 shares of the company’s stock valued at $873,000 after purchasing an additional 9,400 shares during the last quarter. Institutional investors 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.