Brokerages Set Zymeworks Inc (ZYME) Price Target at $25.29

Zymeworks Inc (NYSE:ZYME) has been assigned an average recommendation of “Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $25.29.

A number of equities analysts have recently weighed in on the company. Wells Fargo & Co increased their target price on Zymeworks from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Raymond James increased their target price on Zymeworks from $29.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Zacks Investment Research upgraded Zymeworks from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, March 20th. TheStreet upgraded Zymeworks from a “d” rating to a “c-” rating in a research note on Friday, January 11th. Finally, ValuEngine upgraded Zymeworks from a “hold” rating to a “buy” rating in a research note on Monday, January 7th.

Shares of NYSE ZYME opened at $18.80 on Tuesday. The company has a market cap of $601.90 million, a PE ratio of -14.92 and a beta of 1.58. Zymeworks has a 1-year low of $10.72 and a 1-year high of $29.00.

Zymeworks (NYSE:ZYME) last announced its earnings results on Wednesday, March 6th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.19. The company had revenue of $28.93 million for the quarter, compared to analyst estimates of $65.00 million. Zymeworks had a negative return on equity of 23.17% and a negative net margin of 68.95%. On average, research analysts expect that Zymeworks will post -2.37 EPS for the current year.

In other Zymeworks news, CEO Ali Tehrani sold 3,000 shares of the firm’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $16.24, for a total transaction of $48,720.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.80% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of ZYME. FMR LLC bought a new position in Zymeworks during the 4th quarter worth $8,173,000. Opaleye Management Inc. acquired a new stake in shares of Zymeworks in the 4th quarter valued at $1,541,000. Fosun International Ltd acquired a new stake in shares of Zymeworks in the 4th quarter valued at $1,030,000. Jane Street Group LLC acquired a new stake in shares of Zymeworks in the 4th quarter valued at $1,127,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Zymeworks by 103.0% in the 3rd quarter. Wells Fargo & Company MN now owns 89,794 shares of the company’s stock valued at $1,410,000 after purchasing an additional 45,560 shares in the last quarter. Hedge funds and other institutional investors own 28.32% of the company’s stock.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.

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Analyst Recommendations for Zymeworks (NYSE:ZYME)

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