Zymeworks (NYSE:ZYME) Upgraded to "Strong-Buy" at Leerink Partnrs

Leerink Partnrs upgraded shares of Zymeworks (NYSE:ZYME - Free Report) from a hold rating to a strong-buy rating in a research note published on Thursday,Zacks.com reports. Leerink Partnrs also issued estimates for Zymeworks' Q4 2024 earnings at $0.70 EPS.

Other analysts have also issued research reports about the company. HC Wainwright reissued a "neutral" rating and issued a $12.00 target price on shares of Zymeworks in a report on Friday, November 1st. Leerink Partners upgraded shares of Zymeworks from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $10.00 to $25.00 in a research report on Thursday. Citigroup raised their target price on shares of Zymeworks from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Monday. Wells Fargo & Company cut Zymeworks from an "overweight" rating to an "equal weight" rating and set a $12.00 price target on the stock. in a report on Friday, November 1st. Finally, Stifel Nicolaus lifted their price objective on Zymeworks from $21.00 to $28.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Zymeworks Stock Down 0.8 %

Shares of NYSE:ZYME traded down $0.14 during trading on Thursday, hitting $16.63. The stock had a trading volume of 613,792 shares, compared to its average volume of 626,964. The company has a market capitalization of $1.15 billion, a PE ratio of -11.18 and a beta of 1.16. The firm's fifty day moving average is $12.90 and its 200 day moving average is $10.64. Zymeworks has a 12 month low of $6.83 and a 12 month high of $17.26.

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. Equities research analysts expect that Zymeworks will post -1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Zymeworks

Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC lifted its position in shares of Zymeworks by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 335,661 shares of the company's stock valued at $4,213,000 after buying an additional 17,018 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Zymeworks by 64.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,665 shares of the company's stock worth $171,000 after purchasing an additional 5,359 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Zymeworks in the third quarter worth $47,000. Assenagon Asset Management S.A. purchased a new stake in shares of Zymeworks in the third quarter worth $4,156,000. Finally, nVerses Capital LLC bought a new stake in shares of Zymeworks during the 3rd quarter valued at $79,000. 92.89% of the stock is currently owned by hedge funds and other 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.