Zymeworks Inc. (NYSE:ZYME) Receives $19.17 Average Target Price from Analysts

Zymeworks Inc. (NYSE:ZYME) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $19.17.

A number of research firms have recently commented on ZYME. Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and upped their target price for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. Citigroup boosted their price target on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus boosted their price target on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a report on Monday, December 16th. Finally, Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th.

Insiders Place Their Bets

In other Zymeworks news, Director Ecor1 Capital, Llc purchased 19,748 shares of Zymeworks stock in a transaction dated Friday, January 17th. The shares were acquired at an average cost of $13.87 per share, with a total value of $273,904.76. Following the completion of the transaction, the director now owns 15,720,161 shares in the company, valued at approximately $218,038,633.07. This trade represents a 0.13 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Andrew Moore sold 21,200 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $14.92, for a total value of $316,304.00. Following the transaction, the insider now directly owns 14,741 shares in the company, valued at approximately $219,935.72. The trade was a 58.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 603,539 shares of company stock worth $8,384,708 and sold 89,601 shares worth $1,336,847. 1.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zymeworks

A number of large investors have recently made changes to their positions in the business. Empowered Funds LLC increased its position in shares of Zymeworks by 5.1% during the fourth quarter. Empowered Funds LLC now owns 352,753 shares of the company’s stock worth $5,164,000 after purchasing an additional 17,092 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Zymeworks by 6.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock worth $214,000 after purchasing an additional 940 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Zymeworks by 30.4% in the 4th quarter. SG Americas Securities LLC now owns 26,782 shares of the company’s stock valued at $392,000 after acquiring an additional 6,239 shares during the period. Ritholtz Wealth Management increased its position in shares of Zymeworks by 6.1% in the 4th quarter. Ritholtz Wealth Management now owns 74,466 shares of the company’s stock valued at $1,090,000 after acquiring an additional 4,297 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Zymeworks by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock valued at $9,403,000 after acquiring an additional 311,107 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

Zymeworks Stock Performance

ZYME opened at $14.56 on Wednesday. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -9.71 and a beta of 1.10. The stock’s 50 day moving average price is $14.06 and its 200-day moving average price is $12.93. Zymeworks has a one year low of $7.97 and a one year high of $17.70.

Zymeworks (NYSE:ZYME) last released 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. The firm had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. As a group, analysts predict that Zymeworks will post -1.39 earnings per share for the current fiscal year.

About Zymeworks

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.