Zymeworks’ (ZYME) Neutral Rating Reiterated at HC Wainwright

HC Wainwright reiterated their neutral rating on shares of Zymeworks (NYSE:ZYME) in a research report released on Tuesday, Benzinga reports. They currently have a $12.00 target price on the stock.

Separately, Stifel Nicolaus boosted their target price 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 Price Performance

ZYME stock opened at $12.92 on Tuesday. The business has a 50-day moving average price of $12.28 and a 200 day moving average price of $10.28. The company has a market capitalization of $913.51 million, a P/E ratio of -7.22 and a beta of 1.20. Zymeworks has a 1-year low of $6.51 and a 1-year high of $14.05.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.01. The firm had revenue of $19.24 million during the quarter, compared to the consensus estimate of $23.16 million. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. During the same period in the previous year, the company posted ($0.76) earnings per share. On average, analysts anticipate that Zymeworks will post -0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zymeworks

A number of large investors have recently modified their holdings of ZYME. Wellington Management Group LLP grew its stake in shares of Zymeworks by 31.0% during the fourth quarter. Wellington Management Group LLP now owns 205,246 shares of the company’s stock worth $2,133,000 after acquiring an additional 48,564 shares during the last quarter. AlphaMark Advisors LLC purchased a new stake in shares of Zymeworks during the first quarter worth about $32,000. Principal Financial Group Inc. purchased a new stake in shares of Zymeworks during the first quarter worth about $273,000. Empowered Funds LLC grew its stake in shares of Zymeworks by 8.2% during the first quarter. Empowered Funds LLC now owns 295,783 shares of the company’s stock worth $3,112,000 after acquiring an additional 22,367 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Zymeworks by 12.8% during the first quarter. Swiss National Bank now owns 83,000 shares of the company’s stock worth $873,000 after acquiring an additional 9,400 shares during the last quarter. Hedge funds and other 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.