Zymeworks (NYSE:ZYME) Earns “Neutral” Rating from HC Wainwright

HC Wainwright reiterated their neutral rating on shares of Zymeworks (NYSE:ZYME) in a research report sent to investors on Friday,Benzinga reports. They currently have a $12.00 price target on the stock.

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

Zymeworks Trading Up 4.5 %

Zymeworks stock opened at $14.29 on Friday. Zymeworks has a 12-month low of $7.97 and a 12-month high of $17.70. The firm’s fifty day moving average is $13.70 and its 200 day moving average is $11.14.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The business had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. Zymeworks’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.41) EPS. As a group, equities research analysts predict that Zymeworks will post -1.01 EPS for the current fiscal year.

Institutional Trading of Zymeworks

Several institutional investors have recently made changes to their positions in ZYME. FMR LLC grew its stake in shares of Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after acquiring an additional 1,525 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Zymeworks during the third quarter valued at about $47,000. Quest Partners LLC grew its position in Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after buying an additional 9,096 shares during the period. nVerses Capital LLC bought a new position in Zymeworks during the third quarter valued at about $79,000. Finally, MQS Management LLC bought a new position in Zymeworks during the second quarter valued at about $92,000. 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.