Zymeworks (NYSE:ZYME) Trading Up 6.3% – Should You Buy?

Zymeworks Inc. (NYSE:ZYME) shares were up 6.3% during mid-day trading on Tuesday . The company traded as high as $18.86 and last traded at $19.1810. Approximately 178,647 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 580,464 shares. The stock had previously closed at $18.05.

Wall Street Analysts Forecast Growth

ZYME has been the topic of several research reports. B. Riley assumed coverage on Zymeworks in a research note on Friday, October 10th. They set a “buy” rating and a $30.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of Zymeworks from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. HC Wainwright reissued a “buy” rating on shares of Zymeworks in a report on Monday, October 27th. Citigroup lifted their price target on Zymeworks from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, August 11th. Finally, Wells Fargo & Company increased their price objective on Zymeworks from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.67.

Zymeworks Price Performance

The company has a market cap of $1.45 billion, a price-to-earnings ratio of -12.84 and a beta of 1.48. The firm has a 50-day moving average price of $17.02 and a 200 day moving average price of $14.34.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.02. The firm had revenue of $27.61 million for the quarter, compared to analysts’ expectations of $33.69 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The company’s quarterly revenue was up 72.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.39) EPS. On average, equities analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Zymeworks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Optiver Holding B.V. acquired a new stake in Zymeworks during the third quarter worth approximately $26,000. 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 period. Tower Research Capital LLC TRC grew its holdings 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 worth $62,000 after purchasing an additional 1,131 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of Zymeworks by 83.3% in the first quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company’s stock worth $119,000 after purchasing an additional 4,559 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Zymeworks by 157.7% during the second quarter. BNP Paribas Financial Markets now owns 10,307 shares of the company’s stock worth $129,000 after buying an additional 6,307 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.