Zymeworks (NASDAQ:ZYME) Reaches New 52-Week High - Here's Why

Key Points

• Zymeworks Inc. (NASDAQ:ZYME) shares reached a new 52-week high of $18.35, closing at $17.96, with a trading volume of 154,275 shares.
• The stock was upgraded from a "hold" to a "buy" rating by Wall Street Zen, although it still holds an average rating of "Sell" based on other analysts' assessments.
• Zymeworks, a clinical-stage biopharmaceutical company, reported a negative EPS of ($1.14) for the last quarter, alongside a revenue of $4.4 million.

Zymeworks Inc. (NASDAQ:ZYME - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $18.35 and last traded at $17.96, with a volume of 154275 shares trading hands. The stock had previously closed at $16.92.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Zymeworks from a "hold" rating to a "buy" rating in a research report on Sunday, August 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Zymeworks in a report on Wednesday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of "Sell".

Zymeworks Stock Performance

The stock has a fifty day moving average price of $15.05. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -18.50 and a beta of 1.51.

Zymeworks (NASDAQ:ZYME - Get Free Report) last announced its earnings results on Tuesday, November 8th. The company reported ($1.14) EPS for the quarter. Zymeworks had a negative net margin of 59.96% and a negative return on equity of 21.59%. The business had revenue of $4.40 million for the quarter.

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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, and breast cancer; and ZW49, a biparatopic anti- human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.

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