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

Shares of Zymeworks Inc. (NYSE:ZYME) have been given an average recommendation of “Buy” by the nine analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $51.33.

ZYME has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Zymeworks from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 11th. HC Wainwright restated a “buy” rating and set a $44.00 price target on shares of Zymeworks in a research report on Monday. Finally, Raymond James set a $74.00 price target on Zymeworks and gave the company a “strong-buy” rating in a research report on Monday, September 13th.

In other news, CEO Ali Tehrani sold 3,800 shares of the firm’s stock in a transaction dated Thursday, July 15th. The stock was sold at an average price of $36.00, for a total transaction of $136,800.00. Following the transaction, the chief executive officer now directly owns 264,125 shares of the company’s stock, valued at $9,508,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.14% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley grew its stake in shares of Zymeworks by 32.9% in the second quarter. Morgan Stanley now owns 2,316,647 shares of the company’s stock worth $80,363,000 after purchasing an additional 574,073 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Zymeworks by 2.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 322,364 shares of the company’s stock valued at $11,183,000 after acquiring an additional 7,547 shares in the last quarter. Weiss Multi Strategy Advisers LLC boosted its position in Zymeworks by 3.7% during the 2nd quarter. Weiss Multi Strategy Advisers LLC now owns 17,077 shares of the company’s stock valued at $592,000 after acquiring an additional 612 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Zymeworks by 43.8% during the second quarter. Invesco Ltd. now owns 9,646 shares of the company’s stock valued at $335,000 after purchasing an additional 2,937 shares during the last quarter. Finally, Armistice Capital LLC lifted its holdings in shares of Zymeworks by 21.2% during the second quarter. Armistice Capital LLC now owns 2,000,000 shares of the company’s stock valued at $69,380,000 after purchasing an additional 350,000 shares during the last quarter. 77.91% of the stock is currently owned by institutional investors.

Shares of ZYME stock opened at $33.07 on Tuesday. Zymeworks has a 52-week low of $24.82 and a 52-week high of $59.03. The company has a market capitalization of $1.53 billion, a PE ratio of -7.60 and a beta of 0.98. The business’s fifty day moving average is $33.39 and its 200 day moving average is $32.77.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Wednesday, August 4th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.05) by ($0.26). Zymeworks had a negative return on equity of 57.78% and a negative net margin of 1,073.23%. The business had revenue of $1.77 million during the quarter, compared to analysts’ expectations of $7.26 million. Sell-side analysts predict that Zymeworks will post -4.62 earnings per share for the current fiscal year.

Zymeworks Company Profile

Zymeworks, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery, development and commercialization of biotherapeutics. Its product, ZW25 and ZW49 are a bispecific antibody that cans two non-overlapping epitopes. The company was founded by Anthony Fejes, J. Haig deB Farris, Nick Bedford, Ali Tehrani and Andrew S.

Recommended Story: Conference Calls and Individual Investors

Analyst Recommendations for Zymeworks (NYSE:ZYME)

Receive News & Ratings for Zymeworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zymeworks and related companies with MarketBeat.com's FREE daily email newsletter.