Zymeworks Inc. (NYSE:ZYME) Given Consensus Recommendation of "Moderate Buy" by Analysts

Zymeworks Inc. (NYSE:ZYME - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $19.00.

Several equities research analysts have recently commented on the company. HC Wainwright restated a "neutral" rating and issued a $12.00 price objective on shares of Zymeworks in a research note on Friday, November 22nd. Stifel Nicolaus upped their price objective on Zymeworks from $21.00 to $28.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Wells Fargo & Company lowered Zymeworks from an "overweight" rating to an "equal weight" rating and set a $12.00 price objective for the company. in a research note on Friday, November 1st. Leerink Partners upgraded Zymeworks from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. Finally, Citigroup increased their price target on Zymeworks from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, November 4th.

Zymeworks Stock Down 3.8 %

Shares of ZYME stock traded down $0.55 during midday trading on Tuesday, reaching $13.95. 333,194 shares of the stock were exchanged, compared to its average volume of 615,600. The company's 50 day moving average is $13.93 and its two-hundred day moving average is $11.42. Zymeworks has a 1 year low of $7.97 and a 1 year 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) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.01. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm had revenue of $16.00 million for the quarter, compared to analysts' expectations of $17.90 million. During the same period in the previous year, the firm posted ($0.41) EPS. The business's revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, analysts forecast that Zymeworks will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zymeworks

Several institutional investors have recently bought and sold shares of ZYME. FMR LLC lifted its stake in shares of Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company's stock worth $42,000 after buying an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Zymeworks during the third quarter valued at $47,000. Quest Partners LLC lifted its position in Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company's stock valued at $78,000 after purchasing an additional 9,096 shares during the period. nVerses Capital LLC acquired a new position in Zymeworks during the third quarter valued at $79,000. Finally, MQS Management LLC acquired a new position in Zymeworks during the second quarter valued at $92,000. 92.89% of the stock is currently 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.