Zymeworks Inc. (NYSE:ZYME) Receives Consensus Rating of “Moderate Buy” from Analysts

Zymeworks Inc. (NYSE:ZYME) has received an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $19.17.

ZYME has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. raised shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target on the stock in a research note on Monday, December 16th. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. Stifel Nicolaus raised their target price on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a research note on Friday, November 22nd.

Insider Activity

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

Hedge Funds Weigh In On Zymeworks

Several institutional investors and hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC lifted its stake in shares of Zymeworks by 55.2% in the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock valued at $14,192,000 after purchasing an additional 592,904 shares during the last quarter. Rubric Capital Management LP raised its holdings in Zymeworks by 12.7% in the 2nd 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 period. Dimensional Fund Advisors LP lifted its position in Zymeworks by 127.5% in the second quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock valued at $6,090,000 after buying an additional 401,068 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Zymeworks during the third quarter worth about $4,156,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Zymeworks during the second quarter valued at about $1,683,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Zymeworks Stock Performance

NYSE ZYME opened at $14.50 on Friday. The stock has a market capitalization of $998.73 million, a price-to-earnings ratio of -9.67 and a beta of 1.12. The stock has a 50-day moving average of $14.25 and a 200 day moving average of $12.00. Zymeworks has a twelve month low of $7.97 and a twelve month high of $17.70.

Zymeworks (NYSE:ZYME) last announced its earnings results 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 return on equity of 23.00% and a negative net margin of 182.75%. The business had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. During the same period in the prior year, the company posted ($0.41) EPS. The business’s quarterly revenue was down 3.1% on a year-over-year basis. Equities analysts predict that Zymeworks will post -1.43 EPS for the current fiscal 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.