Zymeworks Inc. (NYSE:ZYME) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Zymeworks Inc. (NYSE:ZYME - Get Free Report) have been given an average rating of "Moderate Buy" by the ten research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $21.00.

Several equities research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. TD Cowen assumed coverage on shares of Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating for the company. TD Securities assumed coverage on shares of Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating for the company. 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 objective for the company. Finally, HC Wainwright lifted their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Monday, March 10th.

Zymeworks Price Performance

Shares of Zymeworks stock traded up $0.32 during trading on Tuesday, hitting $11.67. 504,342 shares of the stock were exchanged, compared to its average volume of 598,843. The stock has a market cap of $811.96 million, a price-to-earnings ratio of -7.78 and a beta of 1.24. The firm's 50-day moving average price is $11.61 and its 200 day moving average price is $13.10. Zymeworks has a 12-month low of $8.21 and a 12-month high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.15. The business had revenue of $27.11 million during the quarter, compared to analysts' expectations of $20.65 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 170.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.42) EPS. As a group, research analysts forecast that Zymeworks will post -1.39 earnings per share for the current year.

Insider Activity at Zymeworks

In other Zymeworks news, Director Ecor1 Capital, Llc acquired 468,356 shares of the company's stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $12.48 per share, for a total transaction of $5,845,082.88. Following the completion of the purchase, the director now owns 16,802,141 shares in the company, valued at $209,690,719.68. This trade represents a 2.87% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 1,405,768 shares of company stock valued at $16,773,032 over the last ninety days. Insiders own 1.92% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ZYME. Barclays PLC increased its stake in Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company's stock valued at $1,937,000 after purchasing an additional 127,595 shares during the period. SG Americas Securities LLC increased its stake in Zymeworks by 30.4% in the fourth quarter. SG Americas Securities LLC now owns 26,782 shares of the company's stock valued at $392,000 after purchasing an additional 6,239 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Zymeworks by 6.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock valued at $214,000 after purchasing an additional 940 shares during the period. Empowered Funds LLC increased its stake in Zymeworks by 5.1% in the fourth quarter. Empowered Funds LLC now owns 352,753 shares of the company's stock valued at $5,164,000 after purchasing an additional 17,092 shares during the period. Finally, Rhumbline Advisers increased its stake in Zymeworks by 18.1% in the fourth quarter. Rhumbline Advisers now owns 103,876 shares of the company's stock valued at $1,521,000 after purchasing an additional 15,920 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.