Zymeworks Inc. (NYSE:ZYME) Receives Average Rating of "Moderate Buy" from Analysts

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.

Zymeworks Inc. (NYSE:ZYME - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the ten brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $21.00.

ZYME has been the subject of a number of recent research reports. HC Wainwright restated a "neutral" rating and set a $13.00 target price on shares of Zymeworks in a research report on Thursday, July 3rd. TD Securities initiated coverage on Zymeworks in a research note on Tuesday, May 20th. They set a "buy" rating for the company. Finally, TD Cowen initiated coverage on Zymeworks in a research note on Tuesday, May 20th. They set a "buy" rating for the company.

Zymeworks Stock Down 1.2%

ZYME stock opened at $12.02 on Friday. The company has a market cap of $837.59 million, a P/E ratio of -8.01 and a beta of 1.26. Zymeworks has a twelve month low of $9.03 and a twelve month high of $17.70. The business has a fifty day moving average of $12.92 and a 200-day moving average of $12.68.

Zymeworks (NYSE:ZYME - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.52) by $0.55. The company had revenue of $48.73 million during 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 firm's quarterly revenue was up 153.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.49) earnings per share. As a group, equities research analysts anticipate that Zymeworks will post -1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zymeworks news, Director Ecor1 Capital, Llc bought 49,502 shares of Zymeworks stock in a transaction on Thursday, May 15th. The shares were purchased at an average cost of $11.43 per share, for a total transaction of $565,807.86. Following the completion of the acquisition, the director owned 17,877,989 shares in the company, valued at approximately $204,345,414.27. The trade was a 0.28% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.92% of the company's stock.

Institutional Trading of Zymeworks

Institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC raised its position in Zymeworks by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company's stock valued at $3,031,000 after buying an additional 886 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Zymeworks by 12.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,567 shares of the company's stock valued at $138,000 after acquiring an additional 1,300 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Zymeworks by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company's stock valued at $386,000 after acquiring an additional 1,427 shares in the last quarter. Picton Mahoney Asset Management grew its holdings in shares of Zymeworks by 0.7% in the 1st quarter. Picton Mahoney Asset Management now owns 208,029 shares of the company's stock valued at $2,477,000 after acquiring an additional 1,460 shares in the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of 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. 92.89% of the stock is currently owned by institutional investors.

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.

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