Zymeworks (NASDAQ:ZYME) Trading 5.5% Higher – Should You Buy?

Zymeworks Inc. (NASDAQ:ZYME)’s share price rose 5.5% during mid-day trading on Thursday . The stock traded as high as $23.98 and last traded at $23.85. Approximately 1,058,690 shares changed hands during mid-day trading, an increase of 60% from the average daily volume of 663,603 shares. The stock had previously closed at $22.60.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Zymeworks in a research note on Wednesday, October 8th. B. Riley upgraded Zymeworks to a “strong-buy” rating in a report on Thursday, October 9th. Wells Fargo & Company upgraded Zymeworks to a “hold” rating in a report on Friday, October 24th. Wall Street Zen cut Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Zacks Research raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Zymeworks Stock Up 5.4%

The firm has a market capitalization of $1.78 billion, a P/E ratio of -24.56 and a beta of 1.48. The stock’s fifty day moving average is $17.87.

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

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 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.