HC Wainwright Reiterates Neutral Rating for Zymeworks (NYSE:ZYME)

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

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

Zymeworks Stock Down 0.6 %

Shares of Zymeworks stock opened at $14.20 on Friday. The company has a market cap of $978.10 million, a PE ratio of -9.47 and a beta of 1.16. The business has a 50 day moving average of $13.74 and a 200 day moving average of $11.20. Zymeworks has a 52 week low of $7.97 and a 52 week high of $17.70.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01. The business had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.41) EPS. On average, research analysts anticipate that Zymeworks will post -1.08 earnings per share for the current year.

Institutional Trading of Zymeworks

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

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.