Zymeworks (NYSE:ZYME) Upgraded to Overweight at JPMorgan Chase & Co.

Zymeworks (NYSE:ZYME) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday, MarketBeat.com reports. The firm presently has a $18.00 target price on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 34.63% from the company’s previous close.

ZYME has been the topic of several other reports. Stifel Nicolaus increased their price objective on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. HC Wainwright reiterated a “neutral” rating and set a $12.00 target price on shares of Zymeworks in a research note on Friday, November 22nd. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. Finally, Citigroup increased their price objective on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.83.

Zymeworks Price Performance

Zymeworks stock opened at $13.37 on Monday. The firm has a market capitalization of $920.90 million, a PE ratio of -8.91 and a beta of 1.12. The company’s 50-day moving average is $14.14 and its 200-day moving average is $11.75. Zymeworks has a fifty-two week low of $7.97 and a fifty-two week high of $17.70.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. During the same quarter in the previous year, the business earned ($0.41) earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. As a group, analysts expect that Zymeworks will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in Zymeworks by 84.2% in 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 last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Zymeworks in the 3rd quarter valued at $47,000. nVerses Capital LLC bought a new position in shares of Zymeworks in the 3rd quarter valued at $79,000. Quest Partners LLC raised its holdings in shares of Zymeworks by 8,049.6% during the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after buying an additional 9,096 shares in the last quarter. Finally, MQS Management LLC bought a new stake in shares of Zymeworks during the 2nd quarter worth $92,000. Institutional investors own 92.89% of the company’s stock.

Zymeworks Company Profile

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.