Zymeworks Inc. (NYSE:ZYME) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Zymeworks Inc. (NYSE:ZYME - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten ratings firms that are currently covering the stock, Marketbeat.com 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 12 month price target among analysts that have covered the stock in the last year is $21.00.

A number of analysts recently weighed in on the stock. HC Wainwright reissued a "neutral" rating and issued a $13.00 price objective on shares of Zymeworks in a research report on Thursday, July 3rd. TD Cowen assumed coverage on shares of Zymeworks in a research report on Tuesday, May 20th. They issued a "buy" rating on the stock. Finally, TD Securities assumed coverage on shares of Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating on the stock.

Zymeworks Stock Performance

Shares of ZYME traded up $0.64 during midday trading on Wednesday, hitting $13.52. 537,710 shares of the company traded hands, compared to its average volume of 578,080. The firm has a 50 day moving average of $12.30 and a 200-day moving average of $12.80. Zymeworks has a 52 week low of $9.03 and a 52 week high of $17.70. The stock has a market cap of $942.11 million, a price-to-earnings ratio of -9.01 and a beta of 1.19.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.15. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm had revenue of $27.11 million for the quarter, compared to analysts' expectations of $20.65 million. During the same period in the prior year, the company earned ($0.42) EPS. The business's revenue was up 170.3% compared to the same quarter last year. Sell-side analysts predict that Zymeworks will post -1.39 earnings per share for the current fiscal year.

Insider Activity

In other Zymeworks news, Director Ecor1 Capital, Llc acquired 49,502 shares of the company's stock in a transaction dated 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 purchase, the director owned 17,877,989 shares in the company, valued at approximately $204,345,414.27. This trade represents a 0.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.92% of the company's stock.

Institutional Investors Weigh In On Zymeworks

Several institutional investors have recently bought and sold shares of ZYME. Sterling Capital Management LLC boosted its stake in Zymeworks by 781.5% in the fourth 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 boosted its stake in Zymeworks by 1,091.2% in the first quarter. CWM LLC now owns 2,299 shares of the company's stock valued at $27,000 after acquiring an additional 2,106 shares in the last quarter. AlphaQuest LLC boosted its stake in Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock valued at $41,000 after acquiring an additional 2,324 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Zymeworks by 1,113.3% in the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock worth $77,000 after buying an additional 5,934 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of Zymeworks in the fourth quarter worth $108,000. 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.