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

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

ZYME has been the topic of several research reports. HC Wainwright reaffirmed a "neutral" rating and set a $13.00 price objective on shares of Zymeworks in a research report on Thursday, July 3rd. TD Cowen assumed coverage on Zymeworks in a research report on Tuesday, May 20th. They issued a "buy" rating on the stock. Finally, TD Securities assumed coverage on Zymeworks in a research report on Tuesday, May 20th. They issued a "buy" rating on the stock.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc purchased 49,502 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average cost of $11.43 per share, with a total value of $565,807.86. Following the purchase, the director owned 17,877,989 shares of the company's stock, valued at $204,345,414.27. This represents a 0.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zymeworks

A number of hedge funds have recently made changes to their positions in the stock. Nuveen Asset Management LLC boosted 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 period. Janney Montgomery Scott LLC raised 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 purchasing an additional 1,300 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 purchasing an additional 1,427 shares in the last quarter. Picton Mahoney Asset Management raised its stake 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 acquiring an additional 1,460 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in Zymeworks by 781.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after acquiring an additional 1,524 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company's stock.

Zymeworks Price Performance

Shares of NYSE:ZYME traded down $0.23 during trading on Wednesday, hitting $14.25. 431,049 shares of the company were exchanged, compared to its average volume of 577,854. The company has a market cap of $992.98 million, a PE ratio of -9.50 and a beta of 1.19. The stock has a 50 day moving average of $12.46 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.

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

About Zymeworks

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.