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

Zymeworks Inc. (NYSE:ZYME - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $21.00.

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

Zymeworks Trading Up 1.1%

ZYME stock traded up $0.12 during midday trading on Tuesday, hitting $11.35. 247,276 shares of the company's stock were exchanged, compared to its average volume of 599,516. The business has a 50-day simple moving average of $11.67 and a two-hundred day simple moving average of $13.21. The stock has a market capitalization of $789.70 million, a PE ratio of -7.57 and a beta of 1.24. Zymeworks has a 1-year low of $8.21 and a 1-year high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its earnings results 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 company had revenue of $27.11 million during the quarter, compared to analysts' expectations of $20.65 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 170.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.42) earnings per share. As a group, research analysts expect that Zymeworks will post -1.39 EPS for the current fiscal year.

Insider Activity at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 22,689 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $13.08 per share, for a total transaction of $296,772.12. Following the completion of the acquisition, the director now owns 17,157,802 shares in the company, valued at approximately $224,424,050.16. This trade represents a 0.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders purchased 1,405,768 shares of company stock worth $16,773,032. Company insiders own 1.92% of the company's stock.

Institutional Trading of Zymeworks

A number of institutional investors have recently bought and sold shares of the business. Nuveen Asset Management LLC lifted its holdings in Zymeworks by 0.4% during the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company's stock worth $3,031,000 after buying an additional 886 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Zymeworks by 6.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock worth $214,000 after buying an additional 940 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Zymeworks by 12.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,567 shares of the company's stock worth $138,000 after buying an additional 1,300 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Zymeworks by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company's stock worth $386,000 after buying an additional 1,427 shares during the last quarter. Finally, Picton Mahoney Asset Management lifted its holdings in Zymeworks by 0.7% during the 1st quarter. Picton Mahoney Asset Management now owns 208,029 shares of the company's stock worth $2,477,000 after buying an additional 1,460 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other 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.