Zymeworks Inc. (NASDAQ:ZYME) Stock Has Average Price Target of $41.00 According to Analysts

Shares of Zymeworks Inc. (NASDAQ:ZYME) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $41.00.

Several research analysts recently issued reports on ZYME shares. Wolfe Research began coverage on Zymeworks in a research note on Thursday, September 17th. They issued an “outperform” rating on the stock. Citizens Jmp reaffirmed a “market outperform” rating and set a $32.00 target price on shares of Zymeworks in a research report on Wednesday, August 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zymeworks in a report on Friday, July 17th. Stifel Nicolaus set a $46.00 price target on Zymeworks in a research report on Friday, August 7th. Finally, Truist Financial raised their price target on Zymeworks from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, August 7th.

Institutional Trading of Zymeworks

Several hedge funds and other institutional investors have recently bought and sold shares of ZYME. Rubric Capital Management LP lifted its stake in shares of Zymeworks by 21.7% during the 1st quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock worth $175,280,000 after purchasing an additional 1,250,000 shares during the last quarter. BlackRock Inc. bought a new position in Zymeworks in the second quarter worth about $111,122,000. Perceptive Advisors LLC lifted its position in shares of Zymeworks by 7.6% during the first quarter. Perceptive Advisors LLC now owns 3,510,078 shares of the company’s stock valued at $87,892,000 after buying an additional 248,228 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Zymeworks by 72.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,252,027 shares of the company’s stock valued at $32,728,000 after buying an additional 524,041 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Zymeworks by 6.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 743,898 shares of the company’s stock valued at $18,627,000 after buying an additional 43,896 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Zymeworks Trading Down 1.1%

NASDAQ ZYME opened at $26.52 on Friday. The company’s 50-day moving average price is $26.00 and its 200-day moving average price is $25.44. The stock has a market cap of $1.88 billion, a PE ratio of -13.13 and a beta of 1.19. Zymeworks has a 12 month low of $16.00 and a 12 month high of $31.34.

Zymeworks (NASDAQ:ZYME) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.06). The company had revenue of $3.23 million during the quarter, compared to analysts’ expectations of $4.54 million. Zymeworks had a negative net margin of 405.31% and a negative return on equity of 72.30%. Zymeworks’s quarterly revenue was down 90.6% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. As a group, sell-side analysts forecast that Zymeworks will post 1.38 earnings per share for the current year.

Zymeworks Company Profile

Zymeworks Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company uses its proprietary Azymetric and EFECT antibody-engineering platforms to design multifunctional biotherapeutics, including bispecific antibodies and antibody-drug conjugates intended to address complex disease biology.

Zymeworks’ leading product is zanidatamab, a bispecific antibody targeting HER2. In the United States, zanidatamab is marketed as Zii?hera for previously treated, unresectable or metastatic HER2-positive biliary tract cancer.