Zymeworks (NYSE:ZYME) Upgraded by Leerink Partners to "Outperform" Rating

Leerink Partners upgraded shares of Zymeworks (NYSE:ZYME - Free Report) from a market perform rating to an outperform rating in a research report sent to investors on Thursday, MarketBeat.com reports. Leerink Partners currently has $25.00 price target on the stock, up from their previous price target of $10.00.

A number of other equities analysts also recently issued reports on ZYME. Stifel Nicolaus raised their price objective on shares of Zymeworks from $21.00 to $28.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Wells Fargo & Company cut shares of Zymeworks from an "overweight" rating to an "equal weight" rating and set a $12.00 price target on the stock. in a research note on Friday, November 1st. Citigroup upped their price objective on Zymeworks from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday. Finally, HC Wainwright reiterated a "neutral" rating and set a $12.00 target price on shares of Zymeworks in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Zymeworks has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Zymeworks Stock Up 7.4 %

ZYME traded up $1.16 during mid-day trading on Thursday, reaching $16.77. 874,840 shares of the company traded hands, compared to its average volume of 626,960. The stock has a market capitalization of $1.19 billion, a P/E ratio of -11.18 and a beta of 1.16. Zymeworks has a 52-week low of $6.83 and a 52-week high of $17.26. The company's fifty day moving average price is $12.80 and its 200-day moving average price is $10.59.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.01. The company had revenue of $16.00 million for 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 quarter in the prior year, the company earned ($0.41) earnings per share. As a group, sell-side analysts forecast that Zymeworks will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zymeworks

A number of institutional investors and hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale purchased a new stake in shares of Zymeworks during the third quarter worth about $47,000. Quest Partners LLC grew its holdings in Zymeworks by 8,049.6% during the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company's stock valued at $78,000 after buying an additional 9,096 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Zymeworks during the third quarter valued at approximately $79,000. MQS Management LLC purchased a new position in shares of Zymeworks in the second quarter worth $92,000. Finally, Arizona State Retirement System lifted its holdings in shares of Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company's stock worth $109,000 after buying an additional 1,285 shares in the last quarter. 92.89% of the stock is owned by institutional investors.

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.