Zymeworks Inc. (NASDAQ:ZYME) Stock Has Consensus Price Target of $41.00

Shares of Zymeworks Inc. (NASDAQ:ZYME) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $41.00.

A number of analysts have recently issued reports on ZYME shares. HC Wainwright raised their target price on shares of Zymeworks from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Truist Financial upped their price target on shares of Zymeworks from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Zymeworks from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Citigroup restated a “market outperform” rating on shares of Zymeworks in a research report on Wednesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft set a $32.00 price objective on Zymeworks in a report on Wednesday, August 26th.

Institutional Trading of Zymeworks

Hedge funds have recently added to or reduced their stakes in the company. Nykredit A S acquired a new position in Zymeworks in the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Zymeworks during the fourth quarter worth $37,000. State of Wyoming acquired a new stake in shares of Zymeworks during the second quarter worth $73,000. Allspring Global Investments Holdings LLC boosted its position in shares of Zymeworks by 10.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,507 shares of the company’s stock valued at $221,000 after acquiring an additional 800 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Zymeworks by 3.8% in the first quarter. Janney Montgomery Scott LLC now owns 11,487 shares of the company’s stock valued at $288,000 after acquiring an additional 420 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

Zymeworks Trading Down 2.5%

ZYME opened at $26.81 on Friday. The stock’s fifty day simple moving average is $25.95 and its 200 day simple moving average is $25.43. Zymeworks has a 1-year low of $15.81 and a 1-year high of $31.34. The stock has a market cap of $1.90 billion, a PE ratio of -13.27 and a beta of 1.19.

Zymeworks (NASDAQ:ZYME) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). Zymeworks had a negative return on equity of 72.30% and a negative net margin of 405.31%.The company had revenue of $3.23 million for the quarter, compared to the consensus estimate of $4.54 million. During the same period last year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was down 90.6% compared to the same quarter last year. Equities analysts forecast that Zymeworks will post 1.38 earnings per share for the current year.

About Zymeworks

Zymeworks Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company uses its proprietary Azymetric and EFECT antibody-engineering platforms to design multifunctional biotherapeutics, including bispecific antibodies and antibody-drug conjugates intended to address complex disease biology.

Zymeworks’ leading product is zanidatamab, a bispecific antibody targeting HER2. In the United States, zanidatamab is marketed as Ziiたhera for previously treated, unresectable or metastatic HER2-positive biliary tract cancer.