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

Shares of Zymeworks Inc. (NASDAQ:ZYME) have received an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $36.6667.

A number of equities analysts have recently commented on ZYME shares. Wells Fargo & Company increased their price target on shares of Zymeworks from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Truist Financial set a $28.00 target price on Zymeworks and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Zymeworks in a research note on Monday, April 20th. Stifel Nicolaus increased their price objective on Zymeworks from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Finally, HC Wainwright reiterated a “buy” rating and set a $46.00 price objective on shares of Zymeworks in a research report on Wednesday, June 3rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rubric Capital Management LP grew its holdings in shares of Zymeworks by 21.7% during the 1st quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock valued at $175,280,000 after purchasing an additional 1,250,000 shares during the last quarter. Perceptive Advisors LLC grew its holdings in shares of Zymeworks by 7.6% during the 1st quarter. Perceptive Advisors LLC now owns 3,510,078 shares of the company’s stock valued at $87,892,000 after purchasing an additional 248,228 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Zymeworks by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 2,328,727 shares of the company’s stock valued at $61,315,000 after purchasing an additional 174,293 shares during the last quarter. Vestal Point Capital LP grew its stake in shares of Zymeworks by 53.5% during the third quarter. Vestal Point Capital LP now owns 1,765,000 shares of the company’s stock valued at $30,146,000 after buying an additional 615,000 shares during the last quarter. Finally, Siren L.L.C. bought a new position in shares of Zymeworks during the fourth quarter valued at about $44,238,000. 92.89% of the stock is currently owned by institutional investors.

Zymeworks Stock Up 0.5%

Shares of NASDAQ ZYME opened at $22.97 on Friday. The firm has a market capitalization of $1.68 billion, a P/E ratio of -16.77 and a beta of 1.15. The stock’s 50-day simple moving average is $25.78 and its two-hundred day simple moving average is $24.94. Zymeworks has a twelve month low of $11.51 and a twelve month high of $29.75.

Zymeworks (NASDAQ:ZYME) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.59) earnings per share for the quarter. The company had revenue of $2.41 million during the quarter. Zymeworks had a negative return on equity of 37.97% and a negative net margin of 126.92%. As a group, research analysts anticipate that Zymeworks will post 1.1 EPS for the current fiscal year.

Zymeworks declared that its Board of Directors has approved a share repurchase plan on Thursday, May 14th that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.