Zymeworks (NASDAQ:ZYME) Price Target Raised to $39.00

Key Points

• Citizens JMP raised its Zymeworks price target to $39 from $32 and maintained a “market outperform” rating, implying 47.34% upside from the share price cited in the report.
• Analyst sentiment is broadly positive: 12 analysts rate the stock Buy, one Hold, and one Sell; the consensus is “Moderate Buy” with an average target of $43.25.
• Zymeworks reported quarterly EPS of $2.28, slightly above estimates, and revenue of $512.92 million versus $227.40 million expected; revenue rose 828.7% year over year.

Zymeworks (NASDAQ:ZYME - Get Free Report) had its target price raised by equities researchers at Citizens Jmp from $32.00 to $39.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's price target suggests a potential upside of 47.34% from the stock's current price.

A number of other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. lifted their price objective 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. Deutsche Bank set a $32.00 target price on shares of Zymeworks in a research report on Wednesday, August 26th. Stifel Nicolaus set a $46.00 target price on shares of Zymeworks in a research report on Friday, August 7th. Truist Financial increased their price target on shares of Zymeworks from $35.00 to $36.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $52.00 price target on shares of Zymeworks in a research report on Friday, October 23rd. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.25.

Zymeworks Price Performance

Shares of ZYME opened at $26.47 on Friday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 50.90 and a beta of 1.32. Zymeworks has a 1 year low of $18.20 and a 1 year high of $31.97. The business's 50 day simple moving average is $27.39 and its 200-day simple moving average is $25.46.

Zymeworks (NASDAQ:ZYME - Get Free Report) last announced 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. The company had revenue of $512.92 million for the quarter, compared to analysts' expectations of $227.40 million. Zymeworks had a net margin of 16.10% and a return on equity of 22.23%. Zymeworks's quarterly revenue was up 828.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.26) earnings per share. On average, sell-side analysts expect that Zymeworks will post 1.31 earnings per share for the current year.

Insider Transactions at Zymeworks

In other news, EVP Adam Schayowitz sold 13,832 shares of Zymeworks stock in a transaction on Friday, October 9th. The stock was sold at an average price of $25.85, for a total transaction of $357,557.20. Following the completion of the sale, the executive vice president directly owned 23,205 shares in the company, valued at approximately $599,849.25. This trade represents a 37.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 37.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Rubric Capital Management LP lifted its position in shares of Zymeworks by 21.7% in the 1st quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company's stock worth $175,280,000 after purchasing an additional 1,250,000 shares during the period. BlackRock Inc. bought a new position in Zymeworks in the second quarter worth approximately $111,122,000. Perceptive Advisors LLC lifted its holdings in Zymeworks by 7.6% during the first quarter. Perceptive Advisors LLC now owns 3,510,078 shares of the company's stock worth $87,892,000 after buying an additional 248,228 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Zymeworks by 20.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,508,069 shares of the company's stock worth $39,949,000 after buying an additional 256,042 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Zymeworks by 6.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 743,898 shares of the company's stock valued at $18,627,000 after acquiring an additional 43,896 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company's stock.

Zymeworks News Summary

Investors following ZYME have been watching these news items:

• Positive Sentiment: Zymeworks’ earnings exceeded expectations, and its shares reached a 52-week high following the results. The company reported EPS of $2.28 versus a $2.27 consensus estimate, while revenue also topped forecasts. Zymeworks Hits New 52-Week High After Better-Than-Expected Earnings
• Positive Sentiment: Analysts at TD Cowen raised their price target, while Truist’s forecast pointed to potential price appreciation. Citi also raised its target to $44 and maintained a Buy rating. Zymeworks Stock Gets Price Target Boost from TD Cowen Truist Financial Forecasts Strong Price Appreciation for Zymeworks Citi Raises Zymeworks Price Target
• Negative Sentiment: HC Wainwright substantially reduced its 2026 and 2027 EPS forecasts, including lowering its FY2027 estimate from $1.32 to a loss of $0.39 per share. The cuts to quarterly 2027 estimates may raise concerns about the durability of earnings, although the firm kept its Buy rating and $56 target.

Zymeworks Company Profile

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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