Brokerages Set Zymeworks Inc. (NYSE:ZYME) Price Target at $19.00

Zymeworks Inc. (NYSE:ZYME - Get Free Report) has received an average recommendation of "Moderate Buy" from the six analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $19.00.

A number of equities analysts recently commented on the stock. Leerink Partners raised shares of Zymeworks from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $10.00 to $25.00 in a research note on Thursday. Wells Fargo & Company cut shares of Zymeworks from an "overweight" rating to an "equal weight" rating and set a $12.00 price target for the company. in a research note on Friday, November 1st. Stifel Nicolaus lifted their price target on shares of Zymeworks from $21.00 to $28.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Citigroup lifted their price target on shares of Zymeworks from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Leerink Partnrs raised shares of Zymeworks from a "hold" rating to a "strong-buy" rating in a research note on Thursday.

Institutional Investors Weigh In On Zymeworks

Several large investors have recently modified their holdings of ZYME. Rubric Capital Management LP grew its position in shares of Zymeworks by 12.7% in the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company's stock worth $33,336,000 after buying an additional 441,947 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Zymeworks by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,458,105 shares of the company's stock worth $25,859,000 after buying an additional 63,393 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Zymeworks by 1.2% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,930,887 shares of the company's stock worth $16,431,000 after buying an additional 23,173 shares during the last quarter. Perceptive Advisors LLC grew its position in shares of Zymeworks by 55.2% in the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company's stock worth $14,192,000 after buying an additional 592,904 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Zymeworks by 4.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,305,057 shares of the company's stock worth $13,724,000 after buying an additional 51,036 shares during the last quarter. Institutional investors own 92.89% of the company's stock.

Zymeworks Stock Performance

Shares of NYSE:ZYME traded down $0.14 on Friday, reaching $16.63. The company's stock had a trading volume of 678,739 shares, compared to its average volume of 627,263. Zymeworks has a 52-week low of $6.83 and a 52-week high of $17.26. The company has a market cap of $1.15 billion, a P/E ratio of -11.18 and a beta of 1.16. The company has a 50-day simple moving average of $12.90 and a 200 day simple moving average of $10.64.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $16.00 million during the quarter, compared to analysts' expectations of $17.90 million. During the same period last year, the company posted ($0.41) EPS. The business's revenue was down 3.1% on a year-over-year basis. On average, equities research analysts forecast that Zymeworks will post -1.05 EPS for the current fiscal year.

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.