Zymeworks (NASDAQ:ZYME) Shares Gap Up – What’s Next?

Zymeworks Inc. (NASDAQ:ZYME)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $18.52, but opened at $24.00. Zymeworks shares last traded at $24.67, with a volume of 7,321,394 shares trading hands.

Analysts Set New Price Targets

ZYME has been the subject of a number of analyst reports. Wall Street Zen cut Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Wells Fargo & Company raised Zymeworks to a “hold” rating in a research note on Friday, October 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zymeworks in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, HC Wainwright raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Zymeworks Stock Down 3.8%

The business’s 50 day simple moving average is $17.73. The stock has a market capitalization of $1.72 billion, a PE ratio of -23.70 and a beta of 1.48.

Zymeworks (NASDAQ:ZYME) last announced its earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.04. The company had revenue of $27.61 million for the quarter, compared to analysts’ expectations of $28.27 million. Zymeworks had a negative net margin of 59.96% and a negative return on equity of 21.59%.

About Zymeworks

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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, and breast cancer; and ZW49, a biparatopic anti- human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.