Zymeworks Inc. (NYSE:ZYME) Receives Average Recommendation of "Buy" from Brokerages

Last updated on Saturday, April 24, 2021 | 2021 MarketBeat

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.

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 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.

See Also: What are retained earnings?

Analyst Recommendations for Zymeworks (NYSE:ZYME)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: Cash Asset Ratio



7 Stocks That Cathie Wood is Buying And You Should Too

If you’re an investor that likes to go with the “hot hand,” then they don’t get much hotter than Cathie Wood. The founder and CEO of ARK Investment Management delivered returns of over 100% in all five of her firm’s exchange-traded funds (ETFs) in 2020.

The names of her funds showcase some of the hottest emerging growth trends in the market: financial technology (fintech), genomic revolution, innovation, autonomous technology/robotics, and next generation internet.

As you would expect, these funds contain some of the hottest growth stocks from the past year. And in the aftermath of the tech selloff, Wood is not backing away. In fact, she’s doubling down on her strategy. It might not be exactly a matter of being greedy while others are fearful; perhaps more like being prepared while others are distracted.

But the other thing about Wood’s selections is that many of them are not obscure names. These are companies that were among the hottest names in 2020. Wood simply believes that they still have room to run. And that’s one reason you should consider making them a part of your portfolio.

In this special presentation, we’re giving you just seven of the stocks that Cathie Wood is buying or has bought recently. We’ve attempted to pick out at least one stock from each of the ARK ETFs. As with any investment decision, it’s important that you perform your own research before making a decision.

View the "7 Stocks That Cathie Wood is Buying And You Should Too".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Learn more.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.