Zymeworks (NYSE:ZYME) Upgraded at Leerink Partners

Zymeworks (NYSE:ZYME) was upgraded by equities researchers at Leerink Partners from a “market perform” rating to an “outperform” rating in a report released on Thursday, FinViz reports. The brokerage presently has a $25.00 price target on the stock, up from their previous price target of $10.00. Leerink Partners’ price target suggests a potential upside of 60.15% from the stock’s current price.

A number of other research analysts have also weighed in on ZYME. Wells Fargo & Company lowered shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target on the stock. in a research report on Friday, November 1st. Citigroup boosted their target price on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price target on shares of Zymeworks in a research report on Friday, November 1st. Finally, Stifel Nicolaus lifted their price target on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Zymeworks Price Performance

ZYME opened at $15.61 on Thursday. Zymeworks has a fifty-two week low of $6.83 and a fifty-two week high of $15.63. The firm has a market capitalization of $1.11 billion, a PE ratio of -10.41 and a beta of 1.16. The company’s 50-day moving average is $12.80 and its 200 day moving average is $10.59.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. During the same period in the prior year, the business posted ($0.41) earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, analysts expect that Zymeworks will post -0.94 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new stake in Zymeworks in the 1st quarter valued at about $579,000. O Shaughnessy Asset Management LLC increased its stake in shares of Zymeworks by 51.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 255,497 shares of the company’s stock worth $2,688,000 after purchasing an additional 86,797 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Zymeworks in the second quarter worth about $1,683,000. Rubric Capital Management LP raised its position in shares of Zymeworks by 12.7% in the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock valued at $33,336,000 after purchasing an additional 441,947 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in shares of Zymeworks by 401.9% during the 2nd quarter. Squarepoint Ops LLC now owns 73,324 shares of the company’s stock valued at $624,000 after buying an additional 58,716 shares in 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.