Zymeworks (NYSE:ZYME) Reaches New 1-Year High – Still a Buy?

Zymeworks Inc. (NYSE:ZYME)’s stock price hit a new 52-week high on Monday . The company traded as high as $13.36 and last traded at $13.31, with a volume of 11107 shares. The stock had previously closed at $13.20.

Analysts Set New Price Targets

ZYME has been the topic of a number of research reports. HC Wainwright increased their target price on shares of Zymeworks from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Stifel Nicolaus increased their price objective on shares of Zymeworks from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, August 2nd.

Zymeworks Stock Performance

The stock’s fifty day moving average is $11.85 and its two-hundred day moving average is $10.11. The firm has a market cap of $989.37 million, a price-to-earnings ratio of -9.16 and a beta of 1.20.

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 analysts’ consensus estimates of ($0.27) by $0.01. The firm had revenue of $19.24 million during the quarter, compared to analyst estimates of $23.16 million. Zymeworks had a negative net margin of 179.42% and a negative return on equity of 21.97%. During the same quarter in the prior year, the firm posted ($0.76) EPS. Sell-side analysts predict that Zymeworks Inc. will post -0.85 earnings per share for the current year.

Hedge Funds Weigh In On Zymeworks

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ritholtz Wealth Management boosted its position in shares of Zymeworks by 52.4% during the 3rd quarter. Ritholtz Wealth Management now owns 70,169 shares of the company’s stock valued at $881,000 after purchasing an additional 24,136 shares in the last quarter. SG Americas Securities LLC lifted its stake in Zymeworks by 93.9% during the third quarter. SG Americas Securities LLC now owns 20,543 shares of the company’s stock valued at $258,000 after buying an additional 9,950 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Zymeworks during the second quarter valued at about $1,683,000. Perceptive Advisors LLC lifted its stake in Zymeworks by 55.2% during the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock valued at $14,192,000 after buying an additional 592,904 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its stake in Zymeworks by 8.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 59,523 shares of the company’s stock valued at $507,000 after buying an additional 4,444 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Zymeworks Company Profile

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.