Zymeworks (NASDAQ:ZYME) Hits New 52-Week High - Time to Buy?

Key Points

• Zymeworks hit a new 52-week high, trading as high as $29.75 and last at $28.56 on Tuesday with roughly 950,109 shares changing hands.
• Brokerages have pushed up price targets and given mostly positive ratings — the consensus is a Moderate Buy with an average target of $37.89, though analyst views range from sell to outperform.
• Fundamentals remain challenged: the company is unprofitable (recent EPS -$0.55, net margin -76.56%), has a $2.11 billion market cap, and about 92.9% institutional ownership.

Zymeworks Inc. (NASDAQ:ZYME - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.75 and last traded at $28.56, with a volume of 950109 shares trading hands. The stock had previously closed at $28.10.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZYME. Stifel Nicolaus boosted their price target on Zymeworks from $40.00 to $47.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. HC Wainwright boosted their price target on Zymeworks from $32.00 to $46.00 and gave the stock a "buy" rating in a research report on Friday, March 6th. Leerink Partners boosted their price target on Zymeworks from $52.00 to $58.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Zymeworks in a research report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $37.89.

Zymeworks Price Performance

The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -26.44 and a beta of 1.20. The stock's 50 day moving average price is $25.11 and its two-hundred day moving average price is $23.68.

Zymeworks (NASDAQ:ZYME - Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The company reported ($0.55) earnings per share for the quarter. Zymeworks had a negative return on equity of 26.00% and a negative net margin of 76.56%.The business had revenue of $2.52 million for the quarter. As a group, equities research analysts anticipate that Zymeworks Inc. will post 0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZYME. Optiver Holding B.V. acquired a new position in Zymeworks in the 3rd quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Zymeworks during the 4th quarter worth approximately $37,000. Quarry LP bought a new position in Zymeworks during the 3rd quarter valued at about $50,000. Tower Research Capital LLC TRC lifted its holdings in Zymeworks by 29.6% during the 2nd 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. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Zymeworks by 25.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,637 shares of the company's stock valued at $96,000 after purchasing an additional 731 shares during the last quarter. Institutional investors own 92.89% of the company's stock.

About Zymeworks

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.

At the core of Zymeworks' innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.

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