Zacks Research Downgrades Zymeworks (NASDAQ:ZYME) to Hold

Zymeworks (NASDAQ:ZYME) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on ZYME. Weiss Ratings restated a “sell (d-)” rating on shares of Zymeworks in a report on Wednesday, October 8th. Wells Fargo & Company raised shares of Zymeworks to a “hold” rating in a research report on Friday, October 24th. Wall Street Zen cut Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. B. Riley raised shares of Zymeworks to a “strong-buy” rating in a report on Thursday, October 9th. Finally, HC Wainwright raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Zymeworks Price Performance

Shares of NASDAQ:ZYME opened at $26.71 on Wednesday. Zymeworks has a 1-year low of $9.03 and a 1-year high of $28.49. The company has a market cap of $2.00 billion, a PE ratio of -27.54 and a beta of 1.48. The stock’s 50-day moving average price is $19.23.

Zymeworks (NASDAQ:ZYME) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.04. Zymeworks had a negative net margin of 59.96% and a negative return on equity of 21.59%. The company had revenue of $27.61 million during the quarter, compared to analysts’ expectations of $28.27 million.

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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, and breast cancer; and ZW49, a biparatopic anti- human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.