Zymeworks Inc. (NYSE:ZYME) Receives $21.00 Average Price Target from Analysts

by · The Markets Daily

Zymeworks Inc. (NYSE:ZYME – Get Free Report) has earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $21.00.

ZYME has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Lifesci Capital started coverage on Zymeworks in a research note on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price target for the company. HC Wainwright increased their price objective on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, March 10th. Citigroup raised their target price on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a report on Monday, December 16th.

Read Our Latest Stock Analysis on Zymeworks

Zymeworks Trading Up 12.6 %

NYSE ZYME opened at $10.63 on Monday. The company has a market cap of $739.60 million, a P/E ratio of -7.09 and a beta of 1.18. The company has a fifty day simple moving average of $12.68 and a 200 day simple moving average of $13.57. Zymeworks has a 12-month low of $7.97 and a 12-month high of $17.70.

Insider Buying and Selling at Zymeworks

In related news, Director Ecor1 Capital, Llc acquired 39,029 shares of the stock in a transaction on Wednesday, January 15th. The shares were acquired at an average price of $14.01 per share, with a total value of $546,796.29. Following the completion of the transaction, the director now owns 15,578,732 shares in the company, valued at approximately $218,258,035.32. The trade was a 0.25 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 1,409,296 shares of company stock worth $17,125,418 in the last quarter. 1.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zymeworks

Several large investors have recently modified their holdings of the stock. Sterling Capital Management LLC raised its stake in Zymeworks by 781.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock valued at $25,000 after acquiring an additional 1,524 shares during the period. AlphaQuest LLC increased its stake in shares of Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after purchasing an additional 2,324 shares in the last quarter. FMR LLC raised its position in shares of Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after purchasing an additional 1,525 shares during the period. GAMMA Investing LLC raised its position in shares of Zymeworks by 1,113.3% in the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock valued at $77,000 after purchasing an additional 5,934 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Zymeworks during the 4th quarter valued at approximately $108,000. Hedge funds and other institutional investors 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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