Zymeworks Inc. (NYSE:ZYME) Given Average Rating of “Moderate Buy” by Analysts

Zymeworks Inc. (NYSE:ZYME) has earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $21.4286.

A number of equities analysts recently issued reports on the company. HC Wainwright reissued a “neutral” rating and issued a $13.00 price objective on shares of Zymeworks in a report on Thursday, July 3rd. Citigroup upped their target price on Zymeworks from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, August 11th.

Institutional Investors Weigh In On Zymeworks

A number of institutional investors have recently added to or reduced their stakes in ZYME. CWM LLC lifted its position in shares of Zymeworks by 1,091.2% during the 1st quarter. CWM LLC now owns 2,299 shares of the company’s stock valued at $27,000 after acquiring an additional 2,106 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Zymeworks by 29.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock valued at $62,000 after acquiring an additional 1,131 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Zymeworks by 1,113.3% during the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock valued at $77,000 after acquiring an additional 5,934 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Zymeworks during the 4th quarter valued at $108,000. Finally, Northwest & Ethical Investments L.P. lifted its position in shares of Zymeworks by 83.3% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company’s stock valued at $119,000 after acquiring an additional 4,559 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Zymeworks Price Performance

Shares of ZYME stock opened at $16.94 on Monday. Zymeworks has a 12-month low of $9.03 and a 12-month high of $17.70. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -11.29 and a beta of 1.51. The business has a 50 day simple moving average of $14.76 and a 200 day simple moving average of $13.12.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.55. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The business had revenue of $48.73 million during the quarter, compared to analyst estimates of $17.18 million. During the same period in the prior year, the company posted ($0.49) EPS. The business’s revenue for the quarter was up 153.2% compared to the same quarter last year. On average, equities analysts anticipate that Zymeworks will post -1.39 EPS for the current fiscal year.

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.