Zymeworks (NYSE:ZYME) Given "Neutral" Rating at HC Wainwright

Zymeworks (NYSE:ZYME - Get Free Report)'s stock had its "neutral" rating reaffirmed by investment analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They presently have a $13.00 target price on the stock. HC Wainwright's target price indicates a potential upside of 0.85% from the stock's current price.

A number of other research analysts have also recently weighed in on the stock. Citigroup lifted their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, March 7th. Lifesci Capital assumed coverage on Zymeworks in a research report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price objective on the stock. TD Cowen started coverage on Zymeworks in a research note on Tuesday, May 20th. They issued a "buy" rating on the stock. Finally, TD Securities assumed coverage on Zymeworks in a report on Tuesday, May 20th. They set a "buy" rating on the stock. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Zymeworks Stock Up 3.9%

NYSE ZYME opened at $12.89 on Thursday. Zymeworks has a 52 week low of $8.32 and a 52 week high of $17.70. The firm has a market cap of $896.85 million, a PE ratio of -8.59 and a beta of 1.17. The business's fifty day simple moving average is $12.21 and its 200-day simple moving average is $12.85.

Zymeworks (NYSE:ZYME - Get Free Report) last issued 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. 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 analyst estimates of $20.65 million. During the same period in the prior year, the business posted ($0.42) EPS. The business's revenue for the quarter was up 170.3% compared to the same quarter last year. Research analysts expect that Zymeworks will post -1.39 EPS for the current year.

Insider Activity

In other Zymeworks news, Director Ecor1 Capital, Llc bought 5,919 shares of the stock in a transaction dated Monday, May 19th. The shares were acquired at an average cost of $11.78 per share, for a total transaction of $69,725.82. Following the completion of the transaction, the director owned 17,883,908 shares in the company, valued at approximately $210,672,436.24. The trade was a 0.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders bought 325,812 shares of company stock valued at $3,655,062. 1.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zymeworks

Several institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund lifted its holdings in shares of Zymeworks by 42.7% during the fourth quarter. New York State Common Retirement Fund now owns 13,371 shares of the company's stock worth $196,000 after purchasing an additional 4,000 shares during the period. Raymond James Financial Inc. acquired a new position in Zymeworks during the fourth quarter worth $888,000. AlphaQuest LLC boosted its position in shares of Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock worth $41,000 after purchasing an additional 2,324 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Zymeworks by 16.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 30,960 shares of the company's stock valued at $453,000 after purchasing an additional 4,294 shares in the last quarter. Finally, Tejara Capital Ltd acquired a new position in Zymeworks during the fourth quarter worth $564,000. Institutional investors and hedge funds own 92.89% of the company's stock.

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.

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