Zymeworks (NYSE:ZYME) Rating Increased to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of Zymeworks (NYSE:ZYME) from a hold rating to a strong-buy rating in a research note published on Thursday,Zacks.com reports. Leerink Partnrs also issued estimates for Zymeworks’ Q4 2024 earnings at $0.70 EPS.

Other equities analysts also recently issued reports about the company. HC Wainwright restated a “neutral” rating and issued a $12.00 price objective on shares of Zymeworks in a report on Friday, November 1st. Wells Fargo & Company downgraded Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price objective on the stock. in a report on Friday, November 1st. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and upped their target price for the company from $10.00 to $25.00 in a research note on Thursday. Citigroup lifted their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday. Finally, Stifel Nicolaus boosted their price objective on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Zymeworks Stock Up 0.3 %

NYSE ZYME traded up $0.05 on Thursday, reaching $16.82. The stock had a trading volume of 254,818 shares, compared to its average volume of 625,309. Zymeworks has a 12-month low of $6.83 and a 12-month high of $17.26. The stock has a fifty day moving average price of $12.90 and a two-hundred day moving average price of $10.64. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -11.18 and a beta of 1.16.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. During the same period in the prior year, the firm posted ($0.41) EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Sell-side analysts forecast that Zymeworks will post -1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Empowered Funds LLC lifted its holdings in shares of Zymeworks by 8.2% during the first quarter. Empowered Funds LLC now owns 295,783 shares of the company’s stock valued at $3,112,000 after purchasing an additional 22,367 shares in the last quarter. Swiss National Bank boosted its position in shares of Zymeworks by 12.8% during the first quarter. Swiss National Bank now owns 83,000 shares of the company’s stock valued at $873,000 after buying an additional 9,400 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Zymeworks in the first quarter worth about $579,000. Russell Investments Group Ltd. increased its stake in shares of Zymeworks by 153.3% during the first quarter. Russell Investments Group Ltd. now owns 68,388 shares of the company’s stock valued at $719,000 after buying an additional 41,384 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Zymeworks by 11.1% in the 1st quarter. ProShare Advisors LLC now owns 14,952 shares of the company’s stock valued at $157,000 after acquiring an additional 1,499 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.