Zymeworks (NASDAQ:ZYME) Shares Gap Up – Time to Buy?

Shares of Zymeworks Inc. (NASDAQ:ZYME) gapped up before the market opened on Monday . The stock had previously closed at $18.52, but opened at $24.00. Zymeworks shares last traded at $24.67, with a volume of 7,321,394 shares traded.

Analyst Upgrades and Downgrades

ZYME has been the subject of a number of research reports. Wall Street Zen cut Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Zymeworks in a research note on Wednesday, October 8th. HC Wainwright raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Zacks Research raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, B. Riley raised shares of Zymeworks to a “strong-buy” rating in a research report on Thursday, October 9th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Zymeworks currently has an average rating of “Buy”.

Zymeworks Stock Performance

The stock has a market capitalization of $1.80 billion, a P/E ratio of -24.86 and a beta of 1.48. The business has a fifty day moving average price of $17.40.

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

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 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.