Stifel Nicolaus Boosts Zymeworks (NYSE:ZYME) Price Target to $28.00

Zymeworks (NYSE:ZYME - Free Report) had its price objective increased by Stifel Nicolaus from $21.00 to $28.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, HC Wainwright reiterated a "neutral" rating and issued a $12.00 target price on shares of Zymeworks in a research report on Tuesday, October 22nd.

Zymeworks Trading Up 2.4 %

ZYME traded up $0.31 during midday trading on Monday, hitting $13.24. The company's stock had a trading volume of 476,970 shares, compared to its average volume of 623,319. The firm has a market cap of $940.70 million, a P/E ratio of -8.71 and a beta of 1.20. The firm has a 50-day moving average price of $12.39 and a two-hundred day moving average price of $10.35. Zymeworks has a 52-week low of $6.69 and a 52-week high of $14.05.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating analysts' consensus estimates of ($0.27) by $0.01. The firm had revenue of $19.24 million during the quarter, compared to the consensus estimate of $23.16 million. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. During the same quarter in the prior year, the business posted ($0.76) earnings per share. On average, equities analysts expect that Zymeworks will post -0.85 EPS for the current year.

Hedge Funds Weigh In On Zymeworks

A number of hedge funds have recently modified their holdings of ZYME. Wellington Management Group LLP grew its position in Zymeworks by 31.0% in the fourth quarter. Wellington Management Group LLP now owns 205,246 shares of the company's stock valued at $2,133,000 after purchasing an additional 48,564 shares in the last quarter. AlphaMark Advisors LLC acquired a new stake in shares of Zymeworks in the 1st quarter valued at $32,000. Principal Financial Group Inc. acquired a new position in Zymeworks during the 1st quarter worth approximately $273,000. Empowered Funds LLC boosted its holdings in shares of Zymeworks by 8.2% during the 1st quarter. Empowered Funds LLC now owns 295,783 shares of the company's stock valued at $3,112,000 after acquiring an additional 22,367 shares in the last quarter. Finally, Swiss National Bank raised its position in Zymeworks by 12.8% in the first quarter. Swiss National Bank now owns 83,000 shares of the company's stock valued at $873,000 after purchasing an additional 9,400 shares during the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

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.