Zymeworks Inc. (NYSE:ZYME) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Zymeworks Inc. (NYSE:ZYME) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $21.00.

Several analysts have issued reports on the stock. HC Wainwright restated a “neutral” rating and set a $13.00 price target on shares of Zymeworks in a research report on Thursday, July 3rd. TD Securities assumed coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They set a “buy” rating for the company. Finally, TD Cowen assumed coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They set a “buy” rating for the company.

Zymeworks Stock Down 3.5%

NYSE ZYME opened at $12.88 on Wednesday. The company has a 50-day simple moving average of $12.30 and a two-hundred day simple moving average of $12.80. Zymeworks has a 12-month low of $9.03 and a 12-month high of $17.70. The firm has a market cap of $897.52 million, a price-to-earnings ratio of -8.59 and a beta of 1.19.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.15. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $27.11 million during the quarter, compared to analyst estimates of $20.65 million. During the same period in the prior year, the business posted ($0.42) earnings per share. The company’s revenue was up 170.3% on a year-over-year basis. Equities analysts expect that Zymeworks will post -1.39 earnings per share for the current fiscal year.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc purchased 49,502 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average cost of $11.43 per share, with a total value of $565,807.86. Following the completion of the purchase, the director directly owned 17,877,989 shares in the company, valued at approximately $204,345,414.27. This represents a 0.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zymeworks

A number of institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its holdings in Zymeworks by 781.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after purchasing an additional 1,524 shares during the period. CWM LLC grew its holdings in Zymeworks by 1,091.2% in the first quarter. CWM LLC now owns 2,299 shares of the company’s stock worth $27,000 after purchasing an additional 2,106 shares during the period. AlphaQuest LLC grew its holdings in Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after purchasing an additional 2,324 shares during the period. GAMMA Investing LLC grew its holdings in Zymeworks by 1,113.3% in the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock worth $77,000 after purchasing an additional 5,934 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Zymeworks in the fourth quarter worth about $108,000. 92.89% of the stock is owned by institutional investors.

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.