Zymeworks Inc. (NYSE:ZYME) Receives $21.00 Consensus Price Target from Brokerages

Shares of Zymeworks Inc. (NYSE:ZYME) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.00.

Several research firms have commented on ZYME. Citigroup upped 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. HC Wainwright upped their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, March 10th. TD Securities assumed coverage on shares of Zymeworks in a report on Tuesday, May 20th. They issued a “buy” rating on the stock. TD Cowen assumed coverage on shares of Zymeworks in a research report on Tuesday, May 20th. They issued a “buy” rating for the company. Finally, Lifesci Capital assumed coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 target price for the company.

Zymeworks Price Performance

NYSE:ZYME opened at $12.47 on Friday. Zymeworks has a one year low of $8.21 and a one year high of $17.70. The company has a market cap of $867.63 million, a P/E ratio of -8.31 and a beta of 1.17. The firm’s fifty day moving average price is $12.08 and its two-hundred day moving average price is $12.87.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) EPS for the quarter, beating 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 the consensus estimate of $20.65 million. During the same period in the previous year, the company earned ($0.42) earnings per share. The company’s quarterly revenue was up 170.3% on a year-over-year basis. As a group, equities research analysts expect that Zymeworks will post -1.39 earnings per share for the current year.

Insider Activity

In other news, Director Ecor1 Capital, Llc acquired 43,848 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average price of $12.24 per share, with a total value of $536,699.52. Following the completion of the transaction, the director now directly owns 17,255,151 shares of the company’s stock, valued at $211,203,048.24. This trade represents a 0.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders acquired 448,417 shares of company stock valued at $5,124,592. 1.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zymeworks

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC lifted its position in Zymeworks by 487.0% during the first quarter. Jane Street Group LLC now owns 135,763 shares of the company’s stock worth $1,617,000 after purchasing an additional 112,636 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Zymeworks by 184.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock worth $46,210,000 after acquiring an additional 2,514,834 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Zymeworks by 2.1% in the first quarter. Empowered Funds LLC now owns 360,044 shares of the company’s stock worth $4,288,000 after acquiring an additional 7,291 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Zymeworks by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company’s stock worth $386,000 after acquiring an additional 1,427 shares during the last quarter. Finally, EcoR1 Capital LLC lifted its holdings in shares of Zymeworks by 14.8% in the first quarter. EcoR1 Capital LLC now owns 17,259,548 shares of the company’s stock worth $205,561,000 after acquiring an additional 2,231,469 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

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 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.