Zymeworks (NYSE:ZYME) Hits New 12-Month High – Should You Buy?

Zymeworks Inc. (NYSE:ZYME)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.26 and last traded at $17.25, with a volume of 116034 shares. The stock had previously closed at $16.63.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. HC Wainwright reaffirmed a “neutral” rating and issued a $12.00 price objective on shares of Zymeworks in a research note on Friday, November 1st. Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company downgraded shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price objective on the stock. in a research note on Friday, November 1st. Finally, Citigroup boosted their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Zymeworks Stock Performance

The firm has a fifty day moving average price of $13.23 and a 200 day moving average price of $10.85. The stock has a market cap of $1.19 billion, a PE ratio of -11.48 and a beta of 1.16.

Zymeworks (NYSE:ZYME) last issued 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. The business had revenue of $16.00 million for the quarter, compared to analyst estimates of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. On average, equities research analysts forecast that Zymeworks Inc. will post -1.01 earnings per share for the current year.

Institutional Trading of Zymeworks

Several large investors have recently added to or reduced their stakes in ZYME. Charles Schwab Investment Management Inc. lifted its holdings in shares of Zymeworks by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock worth $1,667,000 after purchasing an additional 650 shares during the period. California State Teachers Retirement System raised its holdings in shares of Zymeworks by 2.9% during the first quarter. California State Teachers Retirement System now owns 43,420 shares of the company’s stock worth $457,000 after purchasing an additional 1,215 shares during the last quarter. Arizona State Retirement System grew its position in Zymeworks by 11.1% during the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock worth $109,000 after purchasing an additional 1,285 shares during the period. ProShare Advisors LLC grew its holdings in Zymeworks by 11.1% during the first quarter. ProShare Advisors LLC now owns 14,952 shares of the company’s stock worth $157,000 after acquiring an additional 1,499 shares during the period. Finally, FMR LLC raised its position in Zymeworks by 84.2% during 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 in the last quarter. Hedge funds and other 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.