Analysts Set Zymeworks Inc. (NYSE:ZYME) Price Target at $32.82

by · The Cerbat Gem

Shares of Zymeworks Inc. (NYSE:ZYME – Get Free Report) have earned a consensus rating of “Buy” from the eleven research firms that are covering the company, Marketbeat reports. Eleven equities research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have covered the stock in the last year is $32.8182.

Several brokerages recently commented on ZYME. Leerink Partners set a $37.00 price target on shares of Zymeworks in a research report on Monday, November 17th. JMP Securities set a $32.00 target price on shares of Zymeworks in a research note on Wednesday, December 3rd. B. Riley restated a “buy” rating and issued a $40.00 target price (up previously from $30.00) on shares of Zymeworks in a report on Friday, November 21st. Wells Fargo & Company upgraded Zymeworks from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $25.00 to $33.00 in a report on Friday, December 12th. Finally, HC Wainwright upped their price target on Zymeworks from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th.

View Our Latest Stock Report on Zymeworks

Zymeworks Trading Up 0.3%

Shares of ZYME opened at $23.17 on Wednesday. The business’s 50-day moving average price is $24.23 and its 200 day moving average price is $18.26. The stock has a market capitalization of $1.73 billion, a P/E ratio of -15.45 and a beta of 1.30. Zymeworks has a 1-year low of $9.03 and a 1-year high of $28.49.

Zymeworks (NYSE:ZYME – Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. The company had revenue of $27.61 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 72.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.39) earnings per share. On average, research analysts predict that Zymeworks will post -1.39 earnings per share for the current year.

Insider Activity

In other news, CEO Kenneth Galbraith sold 54,343 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $25.10, for a total value of $1,364,009.30. Following the completion of the sale, the chief executive officer directly owned 158,286 shares of the company’s stock, valued at $3,972,978.60. This represents a 25.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Andrew Moore sold 20,110 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $25.10, for a total transaction of $504,761.00. Following the sale, the insider owned 31,212 shares of the company’s stock, valued at approximately $783,421.20. This represents a 39.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 132,519 shares of company stock worth $3,417,481 in the last 90 days. Company insiders own 33.51% of the company’s stock.

Institutional Trading of Zymeworks

A number of institutional investors have recently added to or reduced their stakes in ZYME. Optiver Holding B.V. bought a new stake in Zymeworks in the third quarter worth approximately $26,000. Quarry LP acquired a new stake in shares of Zymeworks in the 3rd quarter valued at $50,000. Tower Research Capital LLC TRC increased its position in Zymeworks by 29.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock worth $62,000 after buying an additional 1,131 shares during the last quarter. CWM LLC increased its position in Zymeworks by 272.8% during the second quarter. CWM LLC now owns 8,570 shares of the company’s stock worth $108,000 after buying an additional 6,271 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Zymeworks by 157.7% during the second quarter. BNP Paribas Financial Markets now owns 10,307 shares of the company’s stock valued at $129,000 after buying an additional 6,307 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Zymeworks Company Profile

(Get Free Report)

Zymeworks Inc is a clinical-stage biopharmaceutical company headquartered in Vancouver, British Columbia, with a focus on the discovery, development and commercialization of multifunctional biotherapeutics. Founded in 2003, the company applies proprietary protein engineering platforms to create novel antibody and protein-based therapies targeting oncology and other serious diseases. Zymeworks is publicly traded on the New York Stock Exchange under the symbol ZYME.

The company’s core technology platforms include Azymetric®, which enables the design of bispecific antibodies capable of engaging two distinct targets simultaneously, and the EFECT™ platform for fine-tuning antibody-drug conjugate properties.

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