Zymeworks Inc. (NYSE:ZYME) Given Average Recommendation of “Moderate Buy” by Brokerages

Zymeworks Inc. (NYSE:ZYME) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $19.17.

Several research firms recently weighed in on ZYME. Citigroup lifted their price objective on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a research report on Monday, December 16th. HC Wainwright restated a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a research note on Friday, November 22nd. Wells Fargo & Company lifted their price target on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus increased their target price on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 157,880 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was purchased at an average cost of $14.78 per share, with a total value of $2,333,466.40. Following the purchase, the director now directly owns 15,185,959 shares of the company’s stock, valued at $224,448,474.02. This trade represents a 1.05 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders acquired 245,518 shares of company stock worth $3,595,901. 1.92% of the stock is currently owned by company insiders.

Institutional Trading of Zymeworks

A number of institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new stake in shares of Zymeworks during the second quarter worth $1,683,000. Rubric Capital Management LP boosted its holdings in shares of Zymeworks by 12.7% during the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after buying an additional 441,947 shares in the last quarter. State Street Corp grew its holdings in shares of Zymeworks by 6.1% during the third quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after buying an additional 67,401 shares during the last quarter. Barclays PLC lifted its position in shares of Zymeworks by 476.3% during the 3rd quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after buying an additional 127,595 shares in the last quarter. Finally, Vestal Point Capital LP grew its position in shares of Zymeworks by 39.8% during the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock valued at $7,718,000 after acquiring an additional 175,000 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Price Performance

NYSE:ZYME opened at $15.01 on Friday. The stock’s 50 day simple moving average is $14.43 and its two-hundred day simple moving average is $12.23. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -10.01 and a beta of 1.12. Zymeworks has a 1 year low of $7.97 and a 1 year high of $17.70.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating 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 the consensus estimate of $17.90 million. During the same period in the prior year, the firm posted ($0.41) EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, analysts anticipate that Zymeworks will post -1.43 EPS for the current year.

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.