Zymeworks Inc. (NASDAQ:ZYME) Receives $33.00 Average PT from Brokerages

Zymeworks Inc. (NASDAQ:ZYME) has been given a consensus recommendation of “Buy” by the seven research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and four have issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $33.00.

Several research analysts have weighed in on ZYME shares. Wells Fargo & Company upgraded Zymeworks from an “equal weight” rating to an “overweight” rating and set a $33.00 target price on the stock in a research note on Friday, December 12th. B. Riley upgraded shares of Zymeworks to a “strong-buy” rating in a research report on Thursday, October 9th. Truist Financial upgraded shares of Zymeworks to a “strong-buy” rating in a research report on Wednesday, December 17th. HC Wainwright upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Finally, Citizens Jmp upgraded shares of Zymeworks to a “strong-buy” rating in a research note on Wednesday, December 3rd.

Zymeworks Stock Performance

Shares of NASDAQ:ZYME opened at $26.79 on Friday. Zymeworks has a 1-year low of $9.03 and a 1-year high of $28.49. The firm has a market cap of $2.00 billion, a PE ratio of -31.89 and a beta of 1.27. The stock’s fifty day simple moving average is $22.36.

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

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.