TD Cowen Issues Positive Forecast for Zymeworks (NASDAQ:ZYME) Stock Price

Key Points

• TD Cowen raised its Zymeworks price target to $39 from $34 and maintained a Buy rating, implying 24.39% upside from the prior close.
• Analyst sentiment is broadly positive: 12 analysts rate the stock Buy, and the average rating is Moderate Buy with a $42.25 price target.
• Zymeworks reported quarterly revenue of $512.92 million and EPS of $2.28, both above the cited consensus estimates. A $250 million milestone payment contributed to results, so some of the profit may be nonrecurring.

Zymeworks (NASDAQ:ZYME - Get Free Report) had its target price lifted by TD Cowen from $34.00 to $39.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. TD Cowen's price target indicates a potential upside of 24.39% from the stock's previous close.

Several other equities research analysts also recently commented on the stock. Citizens Jmp reaffirmed a "market outperform" rating and set a $32.00 price objective on shares of Zymeworks in a report on Wednesday, August 26th. JPMorgan Chase & Co. lifted their target price on shares of Zymeworks from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, September 3rd. Wells Fargo & Company boosted their price target on shares of Zymeworks from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. HC Wainwright upped their price target on shares of Zymeworks from $55.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Zymeworks in a report on Monday, October 26th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $42.25.

Zymeworks Price Performance

Shares of ZYME traded up $0.54 during mid-day trading on Tuesday, hitting $31.35. The stock had a trading volume of 565,503 shares, compared to its average volume of 778,225. The firm has a market cap of $2.21 billion, a P/E ratio of -15.54 and a beta of 1.32. The business has a fifty day moving average price of $27.46 and a 200-day moving average price of $25.38. Zymeworks has a 52 week low of $18.20 and a 52 week high of $31.97.

Zymeworks (NASDAQ:ZYME - Get Free Report) last posted its quarterly earnings results on Monday, November 9th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.01. Zymeworks had a negative return on equity of 72.30% and a negative net margin of 405.31%. The company had revenue of $512.92 million during the quarter, compared to the consensus estimate of $227.40 million. During the same quarter in the prior year, the company earned ($0.26) EPS. The firm's quarterly revenue was up 828.7% compared to the same quarter last year. As a group, research analysts expect that Zymeworks will post 1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Adam Schayowitz sold 13,832 shares of the company's stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $25.85, for a total transaction of $357,557.20. Following the sale, the executive vice president directly owned 23,205 shares in the company, valued at $599,849.25. This represents a 37.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 37.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Zymeworks

Hedge funds have recently bought and sold shares of the company. Nykredit A S purchased a new stake in Zymeworks in the 2nd quarter worth approximately $25,000. Sterling Capital Management LLC grew its position in shares of Zymeworks by 813.3% during the 3rd quarter. Sterling Capital Management LLC now owns 1,507 shares of the company's stock valued at $40,000 after purchasing an additional 1,342 shares in the last quarter. State of Wyoming bought a new position in shares of Zymeworks in the second quarter worth $73,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Zymeworks in the third quarter worth $96,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Zymeworks in the third quarter worth $102,000. Hedge funds and other institutional investors own 92.89% of the company's stock.

Key Stories Impacting Zymeworks

Here are the key news stories impacting Zymeworks this week:

• Positive Sentiment: HC Wainwright raised its price target to $56 from $55 and maintained a Buy rating, signaling substantial potential upside in the analyst’s view. Tickerreport article
• Positive Sentiment: Zymeworks raised its 2026 earnings guidance, a favorable update for the company’s near-term outlook. 2026 earnings guidance article
• Neutral Sentiment: Q3 results showed a sharp swing to profit, with EPS of $2.28 versus a loss a year earlier. Revenue was reported above estimates. A $250 million milestone payment from Jazz Pharmaceuticals contributed to the profit, so investors may view some of the results as nonrecurring. Milestone and earnings article
• Negative Sentiment: EPS beat one cited consensus estimate of $2.27 by a penny, but missed the Zacks estimate of $2.40, leaving the earnings comparison mixed. Zacks earnings article

About Zymeworks

Zymeworks Inc. is a biotechnology company headquartered in Vancouver, Canada, that develops engineered medicines, with a focus on treatments for cancer and other serious diseases. Its antibody-engineering technologies are designed to create therapies that can engage multiple biological targets or modify immune responses. The company's lead program is zanidatamab, a HER2-targeted bispecific antibody. In the United States, it is marketed by partner Jazz Pharmaceuticals as Ziihera for certain adults with previously treated, unresectable or metastatic biliary tract cancer.

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