Zymeworks Inc. (NYSE:ZYME) Given Consensus Recommendation of "Moderate Buy" by Analysts

Zymeworks Inc. (NYSE:ZYME - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $21.00.

A number of research firms have recently commented on ZYME. Citigroup increased their target price on Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. TD Securities assumed coverage on shares of Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating on the stock. HC Wainwright lifted their target price on shares of Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Monday, March 10th. TD Cowen initiated coverage on shares of Zymeworks in a report on Tuesday, May 20th. They set a "buy" rating on the stock. Finally, Lifesci Capital assumed coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price target for the company.

Insider Buying and Selling

In other news, Director Ecor1 Capital, Llc purchased 43,848 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average cost of $12.24 per share, for a total transaction of $536,699.52. Following the purchase, the director now directly owns 17,255,151 shares in the company, valued at approximately $211,203,048.24. This represents a 0.25% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have purchased 448,417 shares of company stock worth $5,124,592. 1.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of Zymeworks by 18.1% in the 4th quarter. Rhumbline Advisers now owns 103,876 shares of the company's stock worth $1,521,000 after purchasing an additional 15,920 shares during the period. New York State Common Retirement Fund increased its holdings in Zymeworks by 42.7% during the fourth quarter. New York State Common Retirement Fund now owns 13,371 shares of the company's stock valued at $196,000 after buying an additional 4,000 shares during the last quarter. Raymond James Financial Inc. bought a new position in Zymeworks in the fourth quarter worth approximately $888,000. AlphaQuest LLC boosted its stake in shares of Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock worth $41,000 after acquiring an additional 2,324 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of Zymeworks by 16.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 30,960 shares of the company's stock valued at $453,000 after acquiring an additional 4,294 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Stock Performance

Shares of ZYME traded up $0.35 on Friday, reaching $12.82. The stock had a trading volume of 453,042 shares, compared to its average volume of 553,065. Zymeworks has a 12-month low of $8.21 and a 12-month high of $17.70. The firm has a market capitalization of $891.98 million, a price-to-earnings ratio of -8.55 and a beta of 1.17. The company has a 50-day simple moving average of $12.08 and a 200-day simple moving average of $12.87.

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

Zymeworks Company Profile

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.