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

Shares of Zymeworks Inc. (NASDAQ:ZYME) have earned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $37.8889.

A number of analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Zymeworks from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Wells Fargo & Company upgraded shares of Zymeworks from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $25.00 to $33.00 in a research note on Friday, December 12th. Leerink Partners raised their price target on shares of Zymeworks from $52.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Citizens Jmp set a $32.00 price objective on shares of Zymeworks in a research note on Wednesday, December 3rd. Finally, HC Wainwright upped their price objective on shares of Zymeworks from $32.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, March 6th.

Insider Buying and Selling

In other news, COO Mark Hollywood sold 6,120 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $22.67, for a total transaction of $138,740.40. Following the completion of the sale, the chief operating officer owned 132,913 shares in the company, valued at approximately $3,013,137.71. This represents a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey T. L. Smith sold 9,310 shares of the stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $22.67, for a total value of $211,057.70. Following the transaction, the executive vice president directly owned 26,708 shares in the company, valued at approximately $605,470.36. This represents a 25.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 187,933 shares of company stock worth $4,673,716 over the last ninety days. 33.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zymeworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZYME. EcoR1 Capital LLC raised its position in shares of Zymeworks by 33.1% in the second quarter. EcoR1 Capital LLC now owns 22,970,388 shares of the company’s stock valued at $288,278,000 after purchasing an additional 5,710,840 shares during the period. Siren L.L.C. bought a new stake in shares of Zymeworks during the 4th quarter worth $44,238,000. Perceptive Advisors LLC grew its stake in Zymeworks by 56.0% in the 4th quarter. Perceptive Advisors LLC now owns 3,261,850 shares of the company’s stock valued at $85,885,000 after buying an additional 1,171,187 shares during the last quarter. Rubric Capital Management LP grew its stake in Zymeworks by 22.1% in the 4th quarter. Rubric Capital Management LP now owns 5,750,000 shares of the company’s stock valued at $151,398,000 after buying an additional 1,039,449 shares during the last quarter. Finally, Capricorn Fund Managers Ltd bought a new position in Zymeworks in the 4th quarter worth $26,931,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Zymeworks Price Performance

ZYME opened at $25.46 on Wednesday. The company has a market capitalization of $1.88 billion, a PE ratio of -23.57 and a beta of 1.23. Zymeworks has a fifty-two week low of $9.03 and a fifty-two week high of $28.49. The business has a 50-day moving average of $23.65 and a 200-day moving average of $21.31.

Zymeworks (NASDAQ:ZYME) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.20). Zymeworks had a negative net margin of 76.56% and a negative return on equity of 26.00%. The firm had revenue of $2.52 million during the quarter, compared to the consensus estimate of $21.78 million. During the same period in the previous year, the firm posted ($0.31) EPS. The company’s quarterly revenue was down 91.9% compared to the same quarter last year.

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.