Zymeworks (NASDAQ:ZYME) Raised to Strong-Buy at Truist Financial

Key Points

• Truist Financial upgraded Zymeworks (NASDAQ:ZYME) to a Strong-Buy, while several other firms raised price targets (e.g., HC Wainwright to $46, Leerink to $58, Stifel to $47); MarketBeat's consensus is a Moderate Buy with an average price target of $37.89.
• Shares opened at $28.56 (1‑year range $10.86–$29.75) with a market cap of $2.11 billion, but the company remains unprofitable—last quarter EPS was −$0.55 and net margin about −76.6%.
• Institutional investors dominate ownership (about 92.89%), with major hedge funds like Rubric Capital and Perceptive Advisors substantially increasing their stakes in recent quarters.

Zymeworks (NASDAQ:ZYME - Get Free Report) was upgraded by research analysts at Truist Financial to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Zymeworks in a research note on Monday, April 20th. HC Wainwright lifted their price target on Zymeworks from $32.00 to $46.00 and gave the stock a "buy" rating in a research note on Friday, March 6th. Leerink Partners lifted their price target on Zymeworks from $52.00 to $58.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 3rd. Finally, Stifel Nicolaus lifted their price target on Zymeworks from $40.00 to $47.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $37.89.

Zymeworks Price Performance

NASDAQ:ZYME opened at $28.56 on Monday. The business has a 50 day moving average of $25.11 and a 200 day moving average of $23.68. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -26.44 and a beta of 1.20. Zymeworks has a 1-year low of $10.86 and a 1-year high of $29.75.

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

Hedge Funds Weigh In On Zymeworks

Several hedge funds have recently made changes to their positions in the business. Rubric Capital Management LP grew its stake in Zymeworks by 22.1% in the fourth quarter. Rubric Capital Management LP now owns 5,750,000 shares of the company's stock worth $151,398,000 after purchasing an additional 1,039,449 shares during the period. Perceptive Advisors LLC grew its stake in Zymeworks by 56.0% in the fourth quarter. Perceptive Advisors LLC now owns 3,261,850 shares of the company's stock worth $85,885,000 after purchasing an additional 1,171,187 shares during the period. Vanguard Group Inc. grew its stake in Zymeworks by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 2,328,727 shares of the company's stock worth $61,315,000 after purchasing an additional 174,293 shares during the period. Vestal Point Capital LP grew its stake in Zymeworks by 53.5% in the third quarter. Vestal Point Capital LP now owns 1,765,000 shares of the company's stock worth $30,146,000 after purchasing an additional 615,000 shares during the period. Finally, Siren L.L.C. purchased a new stake in Zymeworks in the fourth quarter worth $44,238,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

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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