Zymeworks Inc (NASDAQ:ZYME) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.

According to Zacks, “Zymeworks Inc. is a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The companys lead product candidate includes ZW25 and ZW33 which are in clinical trial stage. Zymeworks Inc. is headquartered in Vancouver, Canada. “

Other analysts have also recently issued research reports about the stock. Canaccord Genuity initiated coverage on shares of Zymeworks in a research note on Tuesday, May 23rd. They issued a “buy” rating and a $18.00 price target for the company. Citigroup Inc. initiated coverage on shares of Zymeworks in a research note on Tuesday, May 23rd. They issued a “buy” rating and a $18.00 price target for the company. Wells Fargo & Company initiated coverage on shares of Zymeworks in a research note on Tuesday, May 23rd. They issued an “outperform” rating and a $20.00 price target for the company. Barclays PLC initiated coverage on shares of Zymeworks in a research note on Tuesday, May 23rd. They issued an “overweight” rating and a $20.00 price target for the company. Finally, Scotiabank cut shares of Zymeworks from an “overweight” rating to an “underweight” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Zymeworks (ZYME) traded up 8.05% on Friday, hitting $8.32. 41,210 shares of the stock traded hands. Zymeworks has a 52 week low of $2.00 and a 52 week high of $14.25. The firm’s 50 day moving average is $7.47 and its 200 day moving average is $9.25. The stock’s market cap is $210.82 million.

COPYRIGHT VIOLATION WARNING: “Zymeworks Inc (ZYME) Upgraded by Zacks Investment Research to “Hold”” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this news story can be read at https://www.americanbankingnews.com/2017/09/09/zymeworks-inc-zyme-upgraded-by-zacks-investment-research-to-hold.html.

Several hedge funds and other institutional investors have recently bought and sold shares of ZYME. OxFORD Asset Management LLP acquired a new stake in shares of Zymeworks during the 2nd quarter worth about $154,000. Sentry Investments Corp. acquired a new stake in shares of Zymeworks during the 2nd quarter worth about $206,000. Barometer Capital Management Inc. acquired a new stake in shares of Zymeworks during the 2nd quarter worth about $484,000. Finally, Franklin Resources Inc. acquired a new stake in shares of Zymeworks during the 2nd quarter worth about $6,878,000.

About Zymeworks

Zymeworks Inc is a Canada-based clinical-stage biopharmaceutical company. The Company focuses on the discovery, development and commercialization of multifunctional biotherapeutics. The Company’s ZymeCAD platform is for protein modeling and structure-guided protein engineering. The Company’s platforms include Azymetric Platform, AlbuCORE Platform, EFECT Platform and Zymelink Conjugation Platform + Cytotoxins.

Get a free copy of the Zacks research report on Zymeworks (ZYME)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Zymeworks (NASDAQ:ZYME)

Receive News & Ratings for Zymeworks Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zymeworks Inc and related companies with MarketBeat.com's FREE daily email newsletter.