Analysts Set Zymeworks Inc. (NYSE:ZYME) PT at $32.82

Zymeworks Inc. (NYSE:ZYME) has been assigned an average rating of “Buy” from the eleven ratings firms that are currently covering the company, MarketBeat reports. Eleven equities research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $32.8182.

A number of analysts have recently issued reports on the company. HC Wainwright lifted their target price on Zymeworks from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Leerink Partners set a $37.00 price objective on Zymeworks in a report on Monday, November 17th. Wells Fargo & Company upgraded Zymeworks from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $25.00 to $33.00 in a research note on Friday, December 12th. Stifel Nicolaus raised their price target on shares of Zymeworks from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Finally, Citigroup began coverage on shares of Zymeworks in a report on Wednesday, December 3rd. They issued an “outperform” rating on the stock.

Insider Activity at Zymeworks

In other news, insider Paul Andrew Moore sold 20,110 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $25.10, for a total value of $504,761.00. Following the completion of the sale, the insider directly owned 31,212 shares in the company, valued at approximately $783,421.20. The trade was a 39.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth Galbraith sold 54,343 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $25.10, for a total value of $1,364,009.30. Following the sale, the chief executive officer directly owned 158,286 shares in the company, valued at approximately $3,972,978.60. This represents a 25.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 187,933 shares of company stock worth $4,673,716. 33.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zymeworks

Hedge funds have recently added to or reduced their stakes in the stock. Optiver Holding B.V. bought a new position in shares of Zymeworks during the third quarter worth about $26,000. Quarry LP bought a new position in Zymeworks in the 3rd quarter worth about $50,000. Tower Research Capital LLC TRC grew its position in Zymeworks by 29.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock worth $62,000 after purchasing an additional 1,131 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Zymeworks by 25.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,637 shares of the company’s stock valued at $96,000 after purchasing an additional 731 shares during the period. Finally, CWM LLC raised its holdings in shares of Zymeworks by 272.8% during the second quarter. CWM LLC now owns 8,570 shares of the company’s stock valued at $108,000 after buying an additional 6,271 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

Zymeworks Stock Up 3.2%

Shares of NYSE:ZYME opened at $22.72 on Friday. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -15.15 and a beta of 1.25. The company has a 50 day moving average of $24.86 and a two-hundred day moving average of $19.70. Zymeworks has a 52-week low of $9.03 and a 52-week high of $28.49.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, November 6th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $27.61 million for the quarter, compared to analysts’ expectations of $33.69 million. During the same period in the previous year, the company posted ($0.39) earnings per share. The business’s revenue for the quarter was up 72.6% compared to the same quarter last year. On average, equities analysts anticipate that Zymeworks will post -1.39 earnings per share for the current year.

About Zymeworks

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.