Research analysts at Raymond James Financial initiated coverage on shares of Zymeworks (NYSE:ZYME) in a research report issued to clients and investors on Monday. The brokerage set an “outperform” rating on the stock.
Separately, Zacks Investment Research downgraded shares of Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, January 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $14.35.
Shares of Zymeworks stock opened at $11.86 on Monday. Zymeworks has a fifty-two week low of $6.25 and a fifty-two week high of $14.25. The stock has a market cap of $301.97 and a price-to-earnings ratio of -9.49.
A hedge fund recently raised its stake in Zymeworks stock. Perceptive Advisors LLC boosted its holdings in Zymeworks Inc (NYSE:ZYME) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 777,497 shares of the company’s stock after purchasing an additional 46,729 shares during the period. Perceptive Advisors LLC owned approximately 3.06% of Zymeworks worth $5,549,000 at the end of the most recent reporting period. 7.29% of the stock is owned by hedge funds and other institutional investors.
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Zymeworks Inc is a Canada-based biopharmaceutical company. The Company specializes in the discovery, development and commercialization of next-generation multifunctional biotherapeutics, initially focused on the treatment of cancer. The Company operates through a number of platforms, including Azymetric platform, which is developed for the development of IgG-like, novel bispecific antibodies for the targeting of synergistic drug targets; Albucore platform, which is developed as a flexible and alternative platform to antibodies where it is advantageous for multi-valent therapeutic to target multiple disease targets; Effect, which comprises a library of Fc modifications that can selectively modulate the activity of recruited immune cells, and the ZymeLink Conjugation platform, which is a suite of novel protein site-specific conjugation technologies and customizable cleavable and non-cleavable linkers that is compatible with a variety of small molecule therapeutics.
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