Shares of Zymeworks Inc. (NYSE:ZYME) have been given a consensus recommendation of "Buy" by the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $49.50.
Several equities analysts recently issued reports on the company. Citigroup upgraded Zymeworks from a "neutral" rating to a "buy" rating in a research report on Friday, January 29th. Raymond James set a $74.00 price objective on Zymeworks and gave the stock a "strong-buy" rating in a report on Wednesday, March 3rd. Credit Suisse Group initiated coverage on shares of Zymeworks in a research report on Tuesday, March 30th. They issued an "outperform" rating and a $55.00 price objective on the stock. Zacks Investment Research raised Zymeworks from a "hold" rating to a "buy" rating and set a $33.00 price target for the company in a research report on Wednesday, March 31st. Finally, Wells Fargo & Company cut their price target on shares of Zymeworks from $71.00 to $56.00 in a research note on Thursday, January 28th.
ZYME opened at $28.35 on Friday. Zymeworks has a 52 week low of $24.82 and a 52 week high of $59.03. The company has a fifty day moving average price of $31.90 and a two-hundred day moving average price of $42.40. The firm has a market capitalization of $1.31 billion, a PE ratio of -7.52 and a beta of 0.75.
Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Wednesday, February 24th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.23) by $0.49. Zymeworks had a negative net margin of 569.13% and a negative return on equity of 44.06%. The company had revenue of $15.68 million during the quarter, compared to analyst estimates of $10.16 million. Equities analysts forecast that Zymeworks will post -3.35 earnings per share for the current fiscal year.
In other news, CFO Neil A. Klompas sold 1,425 shares of the business's stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $34.95, for a total transaction of $49,803.75. Following the completion of the transaction, the chief financial officer now owns 11,896 shares of the company's stock, valued at approximately $415,765.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James Priour sold 950 shares of the company's stock in a transaction on Tuesday, April 13th. The stock was sold at an average price of $27.93, for a total value of $26,533.50. Following the sale, the insider now owns 2,953 shares of the company's stock, valued at $82,477.29. The disclosure for this sale can be found here. Insiders sold 8,121 shares of company stock worth $276,979 in the last 90 days. 4.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in shares of Zymeworks during the 3rd quarter worth about $56,000. Exane Derivatives raised its holdings in shares of Zymeworks by 23.7% in the fourth quarter. Exane Derivatives now owns 3,301 shares of the company's stock valued at $156,000 after purchasing an additional 632 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Zymeworks by 10.2% during the fourth quarter. Glenmede Trust Co. NA now owns 4,395 shares of the company's stock valued at $207,000 after purchasing an additional 405 shares in the last quarter. Must Asset Management Inc. purchased a new position in Zymeworks during the fourth quarter worth about $214,000. Finally, Virtu Financial LLC purchased a new stake in Zymeworks in the 4th quarter valued at about $219,000. 75.11% of the stock is owned by institutional investors and hedge funds.
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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, and breast cancer; and ZW49, a biparatopic anti- human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.
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