Zymeworks (NYSE:ZYME) Price Target Raised to $21.00

Zymeworks (NYSE:ZYME) had its target price upped by Stifel Nicolaus from $20.00 to $21.00 in a report released on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Citigroup lowered their target price on Zymeworks from $17.00 to $16.00 and set a buy rating on the stock in a report on Friday, May 3rd. HC Wainwright reissued a neutral rating and set a $10.00 price objective on shares of Zymeworks in a report on Thursday, June 6th. Finally, Wells Fargo & Company lowered their price objective on Zymeworks from $14.00 to $12.00 and set an overweight rating on the stock in a research report on Friday, May 3rd.

Zymeworks Trading Down 2.0 %

ZYME stock opened at $10.00 on Friday. Zymeworks has a 52 week low of $6.01 and a 52 week high of $13.14. The company has a market capitalization of $707.10 million, a price-to-earnings ratio of -5.59 and a beta of 1.15. The firm’s 50-day moving average is $9.27 and its two-hundred day moving average is $9.88.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.01. Zymeworks had a negative net margin of 179.42% and a negative return on equity of 21.52%. The company had revenue of $19.24 million for the quarter, compared to the consensus estimate of $23.16 million. During the same period in the previous year, the business earned ($0.76) EPS. On average, equities research analysts predict that Zymeworks will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Zymeworks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZYME. AlphaMark Advisors LLC bought a new stake in Zymeworks during the 1st quarter worth approximately $32,000. New York State Teachers Retirement System acquired a new position in Zymeworks in the fourth quarter worth $50,000. AJOVista LLC bought a new stake in shares of Zymeworks during the fourth quarter worth $66,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Zymeworks in the fourth quarter valued at $84,000. Finally, Arizona State Retirement System raised its holdings in shares of Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after buying an additional 1,285 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

About Zymeworks

Zymeworks Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company's lead product candidates include zanidatamab, a human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.