Analysts Set Zymeworks Inc. (NYSE:ZYME) PT at $21.43

Key Points

• Zymeworks Inc. has received an average analyst rating of "Moderate Buy" from ten research firms, with the average one-year price objective set at $21.43.
• The company reported a 153.2% increase in revenues for the recent quarter, posting $48.73 million, significantly surpassing estimates of $17.18 million.
• Several large institutional investors have recently increased their holdings in Zymeworks, with 92.89% of the company's stock now owned by institutional investors.

Zymeworks Inc. (NYSE:ZYME - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the ten research firms that are currently 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 brokerages that have issued a report on the stock in the last year is $21.4286.

A number of brokerages have issued reports on ZYME. Citigroup lifted their price target on shares of Zymeworks from $19.00 to $22.00 and gave the company a "buy" rating in a report on Monday, August 11th. HC Wainwright reiterated a "neutral" rating and issued a $13.00 price target on shares of Zymeworks in a report on Thursday, July 3rd. TD Cowen began coverage on shares of Zymeworks in a report on Tuesday, May 20th. They issued a "buy" rating on the stock. Finally, TD Securities began coverage on shares of Zymeworks in a report on Tuesday, May 20th. They issued a "buy" rating on the stock.

Institutional Trading of Zymeworks

A number of institutional investors and hedge funds have recently bought and sold shares of ZYME. Squarepoint Ops LLC lifted its position in Zymeworks by 144.6% during the second quarter. Squarepoint Ops LLC now owns 155,599 shares of the company's stock valued at $1,953,000 after purchasing an additional 91,997 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Zymeworks by 29.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company's stock valued at $62,000 after purchasing an additional 1,131 shares during the last quarter. Vestal Point Capital LP lifted its position in Zymeworks by 130.0% during the second quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company's stock valued at $14,432,000 after purchasing an additional 650,000 shares during the last quarter. Rubric Capital Management LP lifted its position in Zymeworks by 8.6% during the second quarter. Rubric Capital Management LP now owns 4,710,551 shares of the company's stock valued at $59,117,000 after purchasing an additional 372,107 shares during the last quarter. Finally, Opaleye Management Inc. lifted its position in Zymeworks by 20.0% during the second quarter. Opaleye Management Inc. now owns 210,000 shares of the company's stock valued at $2,636,000 after purchasing an additional 35,000 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

Zymeworks Stock Performance

Shares of NYSE ZYME traded up $0.97 during midday trading on Thursday, reaching $15.05. The stock had a trading volume of 627,107 shares, compared to its average volume of 528,693. The stock has a 50-day moving average of $13.63 and a 200-day moving average of $12.66. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -10.03 and a beta of 1.27. Zymeworks has a 12-month low of $9.03 and a 12-month high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.55. The firm had revenue of $48.73 million during the quarter, compared to analysts' expectations of $17.18 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company's revenue for the quarter was up 153.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.49) earnings per share. As a group, analysts forecast 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.