Shares of Zymeworks Inc (NYSE:ZYME) have been given an average recommendation of “Buy” by the nine research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $24.00.

Several analysts have recently weighed in on ZYME shares. Wells Fargo & Co lifted their target price on shares of Zymeworks from $20.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, June 4th. Citigroup lowered shares of Zymeworks from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 6th. Canaccord Genuity set a $21.00 target price on shares of Zymeworks and gave the company a “buy” rating in a research report on Wednesday, September 5th. Raymond James reiterated a “buy” rating and set a $27.00 target price on shares of Zymeworks in a research report on Wednesday, August 15th. Finally, ValuEngine upgraded shares of Zymeworks from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd.

In other Zymeworks news, major shareholder Eli & Co Lilly sold 15,874 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $14.58, for a total value of $231,442.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 94,191 shares of company stock worth $1,345,338.

A number of large investors have recently added to or reduced their stakes in the business. Baker BROS. Advisors LP acquired a new position in shares of Zymeworks during the second quarter worth approximately $19,378,000. Vivo Capital LLC acquired a new position in shares of Zymeworks during the second quarter worth approximately $9,166,000. Renaissance Technologies LLC acquired a new position in shares of Zymeworks during the second quarter worth approximately $4,981,000. Vident Investment Advisory LLC acquired a new position in shares of Zymeworks during the second quarter worth approximately $2,243,000. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Zymeworks during the second quarter worth approximately $2,162,000. Hedge funds and other institutional investors own 25.07% of the company’s stock.

Shares of NYSE:ZYME traded down $0.88 on Monday, hitting $15.67. 124,600 shares of the company were exchanged, compared to its average volume of 100,397. Zymeworks has a one year low of $6.87 and a one year high of $29.00. The company has a market cap of $528.94 million, a price-to-earnings ratio of -29.04 and a beta of 4.69.

Zymeworks (NYSE:ZYME) last issued its earnings results on Wednesday, August 1st. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.36. Zymeworks had a negative net margin of 14.66% and a negative return on equity of 8.83%. The business had revenue of $22.00 million for the quarter, compared to analyst estimates of $22.00 million. research analysts forecast that Zymeworks will post -2.42 EPS for the current fiscal year.

About Zymeworks

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidate is ZW25, a novel bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer.

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Analyst Recommendations for Zymeworks (NYSE:ZYME)

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