Brokerages Set Zymeworks Inc. (NYSE:ZYME) Price Target at $19.17

Zymeworks Inc. (NYSE:ZYME - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seven research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $19.17.

ZYME has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of Zymeworks from a "neutral" rating to an "overweight" rating and set a $18.00 price objective on the stock in a research report on Monday, December 16th. Wells Fargo & Company increased their price target on Zymeworks from $12.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday, December 19th. Leerink Partnrs raised Zymeworks from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Citigroup increased their target price on Zymeworks from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, Leerink Partners raised shares of Zymeworks from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $10.00 to $25.00 in a research note on Thursday, November 7th.

Insider Buying and Selling

In related news, Director Ecor1 Capital, Llc purchased 16,692 shares of Zymeworks stock in a transaction dated Thursday, December 26th. The stock was purchased at an average cost of $14.38 per share, with a total value of $240,030.96. Following the transaction, the director now owns 14,720,931 shares in the company, valued at approximately $211,686,987.78. The trade was a 0.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Zymeworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZYME. Bank of New York Mellon Corp grew its holdings in Zymeworks by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 309,703 shares of the company's stock worth $2,636,000 after purchasing an additional 14,825 shares during the last quarter. Principal Financial Group Inc. increased its position in Zymeworks by 18.0% during the 2nd quarter. Principal Financial Group Inc. now owns 30,642 shares of the company's stock valued at $261,000 after buying an additional 4,671 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Zymeworks by 1.2% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,930,887 shares of the company's stock valued at $16,431,000 after buying an additional 23,173 shares during the last quarter. Rhumbline Advisers boosted its holdings in Zymeworks by 9.0% in the second quarter. Rhumbline Advisers now owns 86,912 shares of the company's stock worth $740,000 after acquiring an additional 7,210 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Zymeworks by 23.5% during the second quarter. Victory Capital Management Inc. now owns 58,300 shares of the company's stock worth $496,000 after acquiring an additional 11,100 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company's stock.

Zymeworks Price Performance

ZYME stock remained flat at $14.50 during midday trading on Friday. The company's stock had a trading volume of 461,479 shares, compared to its average volume of 609,735. The firm has a market cap of $998.73 million, a price-to-earnings ratio of -9.67 and a beta of 1.12. The stock's 50-day simple moving average is $14.27 and its 200 day simple moving average is $12.03. Zymeworks has a fifty-two week low of $7.97 and a fifty-two week high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.01. The company had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. Zymeworks's revenue was down 3.1% on a year-over-year basis. During the same period last year, the company earned ($0.41) earnings per share. As a group, equities research analysts forecast that Zymeworks will post -1.43 EPS 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.