Zymeworks Inc. (NASDAQ:ZYME) Given Average Recommendation of “Buy” by Brokerages

Zymeworks Inc. (NASDAQ:ZYME) has received a consensus rating of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, one has issued a buy recommendation and four have given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $33.00.

A number of analysts have recently commented on ZYME shares. HC Wainwright raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Wall Street Zen cut shares of Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research cut Zymeworks from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 26th. Citizens Jmp raised Zymeworks to a “strong-buy” rating in a research report on Wednesday, December 3rd. Finally, Wells Fargo & Company raised Zymeworks from an “equal weight” rating to an “overweight” rating and set a $33.00 price target for the company in a research report on Friday, December 12th.

Zymeworks Price Performance

ZYME stock opened at $22.72 on Friday. The stock has a market capitalization of $1.70 billion, a P/E ratio of -27.05 and a beta of 1.25. Zymeworks has a fifty-two week low of $9.03 and a fifty-two week high of $28.49. The business has a 50-day moving average of $24.86 and a 200-day moving average of $19.78.

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

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.