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

Key Points

• Zymeworks Inc. has received a consensus rating of "Moderate Buy" from ten brokerages, with an average 12-month price target of $21.00.
• The company recently reported earnings of $0.03 per share, significantly exceeding analyst expectations, alongside a revenue increase of 153.2% year-over-year.
• As of now, 92.89% of Zymeworks' stock is held by institutional investors, indicating strong support from large financial entities.

Shares of Zymeworks Inc. (NYSE:ZYME - Get Free Report) have earned an average rating of "Moderate Buy" from the ten analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $21.4286.

Several equities analysts have recently weighed in on ZYME shares. HC Wainwright restated a "neutral" rating and issued a $13.00 target price on shares of Zymeworks in a research report on Thursday, July 3rd. TD Cowen started coverage on Zymeworks in a report on Tuesday, May 20th. They issued a "buy" rating for the company. Citigroup increased their price target on Zymeworks from $19.00 to $22.00 and gave the company a "buy" rating in a report on Monday. Finally, TD Securities started coverage on Zymeworks in a report on Tuesday, May 20th. They issued a "buy" rating for the company.

Insider Activity at Zymeworks

In other news, Director Ecor1 Capital, Llc bought 5,919 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were purchased at an average price of $11.78 per share, with a total value of $69,725.82. Following the purchase, the director owned 17,883,908 shares in the company, valued at approximately $210,672,436.24. The trade was a 0.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zymeworks

Institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC grew its position in Zymeworks by 781.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock valued at $25,000 after acquiring an additional 1,524 shares in the last quarter. CWM LLC grew its stake in Zymeworks by 1,091.2% during the 1st quarter. CWM LLC now owns 2,299 shares of the company's stock worth $27,000 after purchasing an additional 2,106 shares in the last quarter. GAMMA Investing LLC grew its stake in Zymeworks by 1,113.3% during the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock worth $77,000 after purchasing an additional 5,934 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Zymeworks during the 4th quarter worth $108,000. Finally, Northwest & Ethical Investments L.P. grew its stake in Zymeworks by 83.3% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company's stock worth $119,000 after purchasing an additional 4,559 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Zymeworks Stock Performance

NYSE:ZYME traded up $0.08 during mid-day trading on Friday, hitting $14.02. 178,992 shares of the company's stock traded hands, compared to its average volume of 534,197. The company has a fifty day moving average of $12.99 and a 200 day moving average of $12.66. The company has a market capitalization of $1.05 billion, a P/E ratio of -9.35 and a beta of 1.26. Zymeworks has a twelve month low of $9.03 and a twelve month high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.52) by $0.55. The firm had revenue of $48.73 million for the quarter, compared to the consensus estimate of $17.18 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company's revenue was up 153.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.49) earnings per share. On average, research analysts expect that Zymeworks will post -1.39 earnings per share 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.