Zymeworks’ (ZYME) Neutral Rating Reiterated at HC Wainwright

Zymeworks (NYSE:ZYME)‘s stock had its “neutral” rating reiterated by investment analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $12.00 price target on the stock. HC Wainwright’s price objective would indicate a potential downside of 12.42% from the stock’s current price.

A number of other analysts have also recently commented on the company. Wells Fargo & Company cut Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price objective for the company. in a research report on Friday, November 1st. Stifel Nicolaus upped their price target on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. Citigroup boosted their target price on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Zymeworks has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Zymeworks Stock Down 5.8 %

ZYME stock opened at $13.70 on Friday. The business has a 50 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 firm has a market cap of $943.79 million, a PE ratio of -9.13 and a beta of 1.16.

Zymeworks (NYSE:ZYME) last posted its 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 business had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. During the same quarter last year, the company earned ($0.41) EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, research analysts expect that Zymeworks will post -1.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ZYME. Rubric Capital Management LP lifted its position in shares of Zymeworks by 12.7% in the second 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 in the last quarter. Vanguard Group Inc. boosted its position in shares of Zymeworks by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 2,458,105 shares of the company’s stock valued at $25,859,000 after acquiring an additional 63,393 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Zymeworks by 0.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock valued at $24,416,000 after purchasing an additional 14,604 shares in the last quarter. Perceptive Advisors LLC increased its position in Zymeworks by 55.2% in the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock worth $14,192,000 after purchasing an additional 592,904 shares during the last quarter. Finally, State Street Corp raised its stake in Zymeworks by 6.1% during the third quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after purchasing an additional 67,401 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

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.