Zymeworks (NYSE:ZYME – Free Report) had its price objective lowered by Citigroup from $17.00 to $16.00 in a research report sent to investors on Friday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.
Separately, Wells Fargo & Company reduced their price objective on Zymeworks from $14.00 to $12.00 and set an overweight rating on the stock in a report on Friday.
Check Out Our Latest Stock Report on Zymeworks
Zymeworks Trading Up 2.2 %
Zymeworks (NYSE:ZYME – Get Free Report) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.19. The company had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $18.32 million. Zymeworks had a negative net margin of 249.63% and a negative return on equity of 28.24%. Analysts predict that Zymeworks will post -1.04 earnings per share for the current year.
Hedge Funds Weigh In On Zymeworks
Large investors have recently bought and sold shares of the business. Gladius Capital Management LP raised its position in shares of Zymeworks by 36.5% in the 3rd quarter. Gladius Capital Management LP now owns 3,940 shares of the company’s stock worth $25,000 after acquiring an additional 1,053 shares in the last quarter. AlphaMark Advisors LLC acquired a new position in Zymeworks during the 1st quarter valued at about $32,000. New York State Teachers Retirement System acquired a new position in Zymeworks during the 4th quarter valued at about $50,000. Arizona State Retirement System acquired a new position in Zymeworks during the 3rd quarter valued at about $64,000. Finally, AJOVista LLC acquired a new position in Zymeworks during the 4th quarter valued at about $66,000. Institutional investors own 92.89% of the company’s stock.
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.
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