Zymeworks (NYSE:ZYME) Upgraded at Leerink Partnrs

Zymeworks (NYSE:ZYME) was upgraded by research analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports. Leerink Partnrs also issued estimates for Zymeworks’ Q4 2024 earnings at $0.70 EPS.

A number of other research analysts have also recently issued reports on the company. Stifel Nicolaus lifted their price target on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. HC Wainwright reissued a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a report on Friday, November 1st. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $10.00 to $25.00 in a report on Thursday. Wells Fargo & Company lowered shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price objective on the stock. in a report on Friday, November 1st. Finally, Citigroup increased their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Zymeworks Stock Up 7.4 %

Shares of ZYME stock opened at $16.77 on Thursday. The company has a market capitalization of $1.16 billion, a P/E ratio of -11.18 and a beta of 1.16. Zymeworks has a 12-month low of $6.83 and a 12-month high of $17.26. The firm has a 50-day moving average price of $12.90 and a 200 day moving average price of $10.64.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) EPS 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 for the quarter, compared to the consensus estimate of $17.90 million. During the same period in the previous year, the business earned ($0.41) EPS. Zymeworks’s revenue was down 3.1% compared to the same quarter last year. As a group, research analysts expect that Zymeworks will post -1.05 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new position in shares of Zymeworks in the 3rd quarter valued at about $47,000. Quest Partners LLC boosted its stake in 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 acquiring an additional 9,096 shares during the last quarter. nVerses Capital LLC bought a new position in Zymeworks during the 3rd quarter worth approximately $79,000. MQS Management LLC bought a new position in Zymeworks during the 2nd quarter worth approximately $92,000. Finally, Arizona State Retirement System boosted its stake 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 acquiring an additional 1,285 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

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.