Brokerages Set Zymeworks Inc. (NASDAQ:ZYME) PT at $33.00

Shares of Zymeworks Inc. (NASDAQ:ZYME) have been assigned an average rating of “Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, one has given a buy recommendation and four have given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $33.00.

A number of analysts have issued reports on ZYME shares. HC Wainwright raised Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. B. Riley upgraded shares of Zymeworks to a “strong-buy” rating in a research note on Thursday, October 9th. Zacks Research lowered shares of Zymeworks from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 26th. Truist Financial raised shares of Zymeworks to a “strong-buy” rating in a report on Wednesday, December 17th. Finally, Citizens Jmp upgraded shares of Zymeworks to a “strong-buy” rating in a research report on Wednesday, December 3rd.

Zymeworks Stock Performance

Zymeworks stock opened at $23.63 on Tuesday. Zymeworks has a fifty-two week low of $9.03 and a fifty-two week high of $28.49. The stock’s fifty day moving average price is $24.68. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -28.13 and a beta of 1.30.

Zymeworks (NASDAQ:ZYME) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. The company had revenue of $27.61 million for the quarter, compared to the consensus estimate of $28.27 million. Zymeworks had a negative return on equity of 19.25% and a negative net margin of 47.16%.

Zymeworks Company Profile

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.

At the core of Zymeworks’ innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.