Zymeworks Inc. (NYSE:ZYME) Receives $19.17 Average Price Target from Analysts

Shares of Zymeworks Inc. (NYSE:ZYME) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $19.17.

ZYME has been the topic of a number of research reports. Stifel Nicolaus increased their target price on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Citigroup raised their target price on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. HC Wainwright reiterated a “neutral” rating and set a $12.00 price target on shares of Zymeworks in a research report on Friday, November 22nd. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. Finally, Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th.

Insider Transactions at Zymeworks

In other news, Director Ecor1 Capital, Llc bought 11,958 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were acquired at an average cost of $14.12 per share, for a total transaction of $168,846.96. Following the purchase, the director now owns 14,704,239 shares of the company’s stock, valued at $207,623,854.68. This represents a 0.08 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zymeworks

Several large investors have recently bought and sold shares of the stock. FMR LLC increased its stake in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after acquiring an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Zymeworks during the third quarter valued at approximately $47,000. nVerses Capital LLC bought a new position in Zymeworks in the third quarter worth $79,000. Quest Partners LLC lifted its position in Zymeworks by 8,049.6% in the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after purchasing an additional 9,096 shares during the period. Finally, MQS Management LLC bought a new stake in Zymeworks in the 2nd quarter valued at $92,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Zymeworks Price Performance

Shares of ZYME stock opened at $14.64 on Friday. The company’s fifty day moving average price is $14.36 and its two-hundred day moving average price is $12.17. The firm has a market capitalization of $1.01 billion, a P/E ratio of -9.76 and a beta of 1.12. Zymeworks has a 12 month low of $7.97 and a 12 month high of $17.70.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.01. The firm had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.41) earnings per share. On average, sell-side analysts anticipate that Zymeworks will post -1.43 EPS for the current year.

About Zymeworks

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.