Zymeworks (NYSE:ZYME) Coverage Initiated by Analysts at Citizens Jmp

Investment analysts at Citizens Jmp started coverage on shares of Zymeworks (NYSE:ZYME) in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “market outperform” rating and a $32.00 price target on the stock. Citizens Jmp’s price objective would indicate a potential upside of 23.86% from the stock’s current price.

Several other analysts have also weighed in on ZYME. Leerink Partners set a $37.00 price target on Zymeworks in a report on Monday, November 17th. Citigroup began coverage on shares of Zymeworks in a research note on Wednesday. They issued an “outperform” rating on the stock. Wells Fargo & Company raised their target price on shares of Zymeworks from $17.00 to $25.00 and gave the stock a “cautious” rating in a report on Wednesday, November 19th. HC Wainwright upped their price target on shares of Zymeworks from $26.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, Stifel Nicolaus increased their price objective on shares of Zymeworks from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.30.

Zymeworks Price Performance

Shares of NYSE ZYME traded up $0.74 during mid-day trading on Wednesday, hitting $25.84. 103,325 shares of the company’s stock traded hands, compared to its average volume of 689,899. Zymeworks has a 1 year low of $9.03 and a 1 year high of $28.49. The company’s 50-day moving average is $19.60 and its two-hundred day moving average is $15.63. The company has a market capitalization of $1.93 billion, a P/E ratio of -17.24 and a beta of 1.48.

Zymeworks (NYSE:ZYME) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.02. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The company had revenue of $27.61 million during the quarter, compared to analyst estimates of $33.69 million. During the same quarter last year, the business posted ($0.39) earnings per share. The firm’s revenue was up 72.6% on a year-over-year basis. Equities analysts anticipate that Zymeworks will post -1.39 EPS for the current fiscal year.

Institutional Trading of Zymeworks

Several institutional investors and hedge funds have recently modified their holdings of the stock. Optiver Holding B.V. purchased a new stake in shares of Zymeworks in the third quarter valued at approximately $26,000. CWM LLC increased its holdings in Zymeworks by 1,091.2% during the 1st quarter. CWM LLC now owns 2,299 shares of the company’s stock worth $27,000 after purchasing an additional 2,106 shares during the period. Quarry LP bought a new stake in Zymeworks during the 3rd quarter valued at $50,000. Tower Research Capital LLC TRC lifted its holdings in shares of Zymeworks by 29.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock worth $62,000 after buying an additional 1,131 shares during the period. Finally, Northwest & Ethical Investments L.P. grew its position in shares of Zymeworks by 83.3% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company’s stock worth $119,000 after buying an additional 4,559 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

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 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.