Zymeworks (NYSE:ZYME) Price Target Raised to $28.00 at Stifel Nicolaus

Zymeworks (NYSE:ZYME) had its price target raised by equities researchers at Stifel Nicolaus from $21.00 to $28.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 108.64% from the stock’s current price.

Separately, HC Wainwright reiterated a “neutral” rating and set a $12.00 price target on shares of Zymeworks in a research report on Tuesday, October 22nd.

Zymeworks Stock Up 3.8 %

Shares of Zymeworks stock traded up $0.49 during trading hours on Monday, reaching $13.42. 43,906 shares of the stock traded hands, compared to its average volume of 620,855. The company has a 50 day moving average price of $12.33 and a 200 day moving average price of $10.32. The firm has a market capitalization of $953.49 million, a price-to-earnings ratio of -8.83 and a beta of 1.20. Zymeworks has a one year low of $6.69 and a one year high of $14.05.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.01. The firm had revenue of $19.24 million during the quarter, compared to the consensus estimate of $23.16 million. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. During the same period in the previous year, the company posted ($0.76) earnings per share. Sell-side analysts anticipate that Zymeworks will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On Zymeworks

A number of large investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Zymeworks in the 1st quarter valued at $6,301,000. Perceptive Advisors LLC increased its holdings in Zymeworks by 55.2% in the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock valued at $14,192,000 after buying an additional 592,904 shares during the last quarter. Rubric Capital Management LP lifted 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. Dimensional Fund Advisors LP raised its position in shares of Zymeworks by 127.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock worth $6,090,000 after purchasing an additional 401,068 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Zymeworks by 94.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 716,482 shares of the company’s stock worth $7,537,000 after acquiring an additional 348,441 shares during the period. 92.89% of the stock is 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.