HC Wainwright Reaffirms Neutral Rating for Zymeworks (NYSE:ZYME)

Zymeworks (NYSE:ZYME - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $12.00 price objective on the stock. HC Wainwright's price target indicates a potential downside of 16.03% from the stock's previous close.

Several other brokerages also recently issued reports on ZYME. Stifel Nicolaus upped their price objective on shares of Zymeworks from $21.00 to $28.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Leerink Partners raised Zymeworks from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. Wells Fargo & Company downgraded Zymeworks from an "overweight" rating to an "equal weight" rating and set a $12.00 target price on the stock. in a research report on Friday, November 1st. Leerink Partnrs upgraded Zymeworks from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Finally, Citigroup increased their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Zymeworks Trading Up 4.5 %

Shares of ZYME stock traded up $0.61 during trading hours on Friday, hitting $14.29. The company's stock had a trading volume of 501,977 shares, compared to its average volume of 622,157. The business has a fifty day moving average of $13.70 and a 200-day moving average of $11.14. Zymeworks has a twelve month low of $7.97 and a twelve month high of $17.70. The stock has a market cap of $984.27 million, a price-to-earnings ratio of -9.55 and a beta of 1.16.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating 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 quarter in the prior year, the firm earned ($0.41) EPS. Zymeworks's quarterly revenue was down 3.1% on a year-over-year basis. On average, equities analysts expect that Zymeworks will post -1.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Zymeworks

Large investors have recently modified their holdings of the company. FMR LLC grew its holdings in shares of Zymeworks by 84.2% during the 3rd quarter. FMR LLC now owns 3,336 shares of the company's stock worth $42,000 after purchasing an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Zymeworks during the third quarter valued at approximately $47,000. Quest Partners LLC grew its stake in Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company's stock worth $78,000 after buying an additional 9,096 shares during the period. nVerses Capital LLC acquired a new stake in shares of Zymeworks in the third quarter worth $79,000. Finally, MQS Management LLC purchased a new position in shares of Zymeworks in the 2nd quarter valued at $92,000. 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.