Zymeworks Inc. (NYSE:ZYME) Receives $32.10 Consensus Price Target from Analysts

Zymeworks Inc. (NYSE:ZYME) has earned an average recommendation of “Buy” from the eleven research firms that are presently covering the firm, MarketBeat reports. Eleven analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $32.8182.

ZYME has been the topic of a number of research reports. B. Riley reaffirmed a “buy” rating and set a $40.00 target price (up previously from $30.00) on shares of Zymeworks in a research report on Friday, November 21st. JPMorgan Chase & Co. raised their price target on shares of Zymeworks from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Truist Financial initiated coverage on shares of Zymeworks in a research report on Wednesday. They set a “buy” rating and a $40.00 price objective for the company. Leerink Partners set a $37.00 target price on shares of Zymeworks in a research note on Monday, November 17th. Finally, JMP Securities set a $32.00 price target on Zymeworks in a research note on Wednesday, December 3rd.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Optiver Holding B.V. acquired a new stake in Zymeworks during the third quarter worth $26,000. Quarry LP acquired a new stake in shares of Zymeworks during the 3rd quarter valued at about $50,000. Tower Research Capital LLC TRC increased its stake in Zymeworks by 29.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock valued at $62,000 after acquiring an additional 1,131 shares during the period. CWM LLC raised its position in Zymeworks by 272.8% in the second quarter. CWM LLC now owns 8,570 shares of the company’s stock worth $108,000 after purchasing an additional 6,271 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its stake in Zymeworks by 83.3% during the first quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company’s stock worth $119,000 after purchasing an additional 4,559 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Zymeworks Stock Performance

Shares of NYSE:ZYME opened at $27.23 on Friday. Zymeworks has a 52-week low of $9.03 and a 52-week high of $28.49. The company has a market cap of $2.04 billion, a P/E ratio of -18.15 and a beta of 1.27. The stock’s 50-day moving average is $21.99 and its 200-day moving average is $16.88.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.02. The firm had revenue of $27.61 million during the quarter, compared to the consensus estimate of $33.69 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The firm’s revenue for the quarter was up 72.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.39) EPS. As a group, equities analysts predict that Zymeworks will post -1.39 EPS for the current year.

Zymeworks Company Profile

Zymeworks Inc is a clinical-stage biopharmaceutical company headquartered in Vancouver, British Columbia, with a focus on the discovery, development and commercialization of multifunctional biotherapeutics. Founded in 2003, the company applies proprietary protein engineering platforms to create novel antibody and protein-based therapies targeting oncology and other serious diseases. Zymeworks is publicly traded on the New York Stock Exchange under the symbol ZYME.

The company’s core technology platforms include Azymetric®, which enables the design of bispecific antibodies capable of engaging two distinct targets simultaneously, and the EFECT™ platform for fine-tuning antibody-drug conjugate properties.