Zymeworks (NASDAQ:ZYME) Trading 1.2% Higher – Here’s What Happened

Zymeworks Inc. (NASDAQ:ZYME) was up 1.2% on Tuesday . The company traded as high as $23.66 and last traded at $23.44. Approximately 480,944 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 881,353 shares. The stock had previously closed at $23.17.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ZYME shares. Wall Street Zen lowered shares of Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. HC Wainwright upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Wells Fargo & Company raised shares of Zymeworks from an “equal weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a research report on Friday, December 12th. Zacks Research cut shares of Zymeworks from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zymeworks in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Zymeworks has an average rating of “Buy” and a consensus target price of $33.00.

Zymeworks Trading Up 1.2%

The company’s fifty day moving average price is $25.13. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -27.90 and a beta of 1.25.

Zymeworks (NASDAQ:ZYME) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.04. The firm had revenue of $27.61 million during the quarter, compared to analysts’ expectations of $28.27 million. Zymeworks had a negative net margin of 47.16% and a negative return on equity of 19.25%.

Zymeworks Company Profile

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.