Zymeworks’ (ZYME) Neutral Rating Reiterated at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Zymeworks (NYSE:ZYME) in a research note released on Friday morning,Benzinga reports. The brokerage currently has a $12.00 target price on the stock.

ZYME has been the topic of several other research reports. Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus lifted their price target on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Citigroup upped their price objective on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company cut Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 target price on the stock. in a research note on Friday, November 1st. Finally, Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and increased their price target for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Zymeworks currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Zymeworks Price Performance

Zymeworks stock opened at $14.29 on Friday. The firm has a market cap of $984.30 million, a PE ratio of -9.53 and a beta of 1.16. Zymeworks has a one year low of $7.97 and a one year high of $17.70. The stock’s fifty day moving average price is $13.74 and its two-hundred day moving average price is $11.20.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $17.90 million. During the same quarter in the previous year, the firm posted ($0.41) earnings per share. Zymeworks’s revenue for the quarter was down 3.1% on a year-over-year basis. Sell-side analysts expect that Zymeworks will post -1.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zymeworks

Institutional investors and hedge funds have recently bought and sold shares of the business. Rubric Capital Management LP raised its stake in Zymeworks by 12.7% during the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock valued at $33,336,000 after buying an additional 441,947 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Zymeworks by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,458,105 shares of the company’s stock worth $25,859,000 after purchasing an additional 63,393 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Zymeworks by 0.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock worth $24,416,000 after purchasing an additional 14,604 shares during the last quarter. Perceptive Advisors LLC boosted its stake in Zymeworks by 55.2% in the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock worth $14,192,000 after purchasing an additional 592,904 shares in the last quarter. Finally, State Street Corp grew its position in Zymeworks by 6.1% during the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after purchasing an additional 67,401 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.