Zymeworks Inc. (NYSE:ZYME) Given Average Recommendation of “Moderate Buy” by Brokerages

Zymeworks Inc. (NYSE:ZYME) has been given an average recommendation of “Moderate Buy” by the ten research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $21.4286.

Several equities analysts have recently commented on ZYME shares. HC Wainwright reissued a “neutral” rating and issued a $13.00 target price on shares of Zymeworks in a report on Thursday, July 3rd. Citigroup lifted their price target on shares of Zymeworks from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, August 11th.

Hedge Funds Weigh In On Zymeworks

A number of large investors have recently bought and sold shares of the business. EcoR1 Capital LLC increased its holdings in Zymeworks by 33.1% during the 2nd quarter. EcoR1 Capital LLC now owns 22,970,388 shares of the company’s stock worth $288,278,000 after purchasing an additional 5,710,840 shares during the period. Rubric Capital Management LP grew its position in shares of Zymeworks by 8.6% in the 2nd quarter. Rubric Capital Management LP now owns 4,710,551 shares of the company’s stock worth $59,117,000 after buying an additional 372,107 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Zymeworks by 184.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock worth $46,210,000 after acquiring an additional 2,514,834 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Zymeworks by 0.4% during the 1st quarter. Deutsche Bank AG now owns 1,552,612 shares of the company’s stock worth $18,492,000 after acquiring an additional 5,840 shares in the last quarter. Finally, Vestal Point Capital LP grew its holdings in Zymeworks by 130.0% in the second quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company’s stock worth $14,432,000 after purchasing an additional 650,000 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Stock Up 0.2%

ZYME opened at $16.94 on Monday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -11.29 and a beta of 1.27. Zymeworks has a twelve month low of $9.03 and a twelve month high of $17.70. The firm has a 50 day moving average price of $14.76 and a 200-day moving average price of $13.12.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, August 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.55. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The company had revenue of $48.73 million for the quarter, compared to the consensus estimate of $17.18 million. During the same quarter in the prior year, the company earned ($0.49) earnings per share. Zymeworks’s revenue was up 153.2% on a year-over-year basis. As a group, analysts expect that Zymeworks will post -1.39 earnings per share for the current year.

Zymeworks Company Profile

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.