Zymeworks (NYSE:ZYME) Earns Buy Rating from Analysts at Truist Financial

by · The Cerbat Gem

Investment analysts at Truist Financial assumed coverage on shares of Zymeworks (NYSE:ZYME – Get Free Report) in a research report issued on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $40.00 price target on the stock. Truist Financial’s price objective indicates a potential upside of 54.74% from the company’s previous close.

ZYME has been the topic of a number of other research reports. Citizens Jmp began coverage on shares of Zymeworks in a report on Wednesday, December 3rd. They issued a “market outperform” rating and a $32.00 price objective on the stock. JMP Securities set a $32.00 target price on Zymeworks in a research report on Wednesday, December 3rd. Citigroup began coverage on Zymeworks in a research note on Wednesday, December 3rd. They issued an “outperform” rating on the stock. Leerink Partners set a $37.00 price target on Zymeworks in a report on Monday, November 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Zymeworks from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Eleven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Zymeworks presently has an average rating of “Buy” and an average price target of $32.82.

Get Our Latest Analysis on ZYME

Zymeworks Stock Down 0.5%

Shares of NYSE:ZYME opened at $25.85 on Wednesday. Zymeworks has a 52-week low of $9.03 and a 52-week high of $28.49. The company has a 50 day moving average of $21.44 and a two-hundred day moving average of $16.64. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -17.23 and a beta of 1.27.

Zymeworks (NYSE:ZYME – Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. The business had revenue of $27.61 million for the quarter, compared to analysts’ expectations of $33.69 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business’s revenue for the quarter was up 72.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.39) earnings per share. On average, equities analysts anticipate that Zymeworks will post -1.39 earnings per share for the current year.

Institutional Trading of Zymeworks

Large investors have recently modified their holdings of the company. EcoR1 Capital LLC increased its stake in shares of Zymeworks by 33.1% in the second quarter. EcoR1 Capital LLC now owns 22,970,388 shares of the company’s stock valued at $288,278,000 after purchasing an additional 5,710,840 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Zymeworks by 184.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock worth $46,210,000 after buying an additional 2,514,834 shares in the last quarter. Millennium Management LLC grew its holdings in Zymeworks by 851.6% in the 3rd quarter. Millennium Management LLC now owns 1,104,813 shares of the company’s stock worth $18,870,000 after buying an additional 988,711 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Zymeworks by 169.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,326,774 shares of the company’s stock valued at $22,661,000 after acquiring an additional 833,994 shares during the period. Finally, Vestal Point Capital LP raised its stake in Zymeworks by 130.0% during the 2nd quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company’s stock valued at $14,432,000 after acquiring an additional 650,000 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Zymeworks Company Profile

(Get Free Report)

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.

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