Zacks Investment Research upgraded shares of Zymeworks (NYSE:ZYME) from a hold rating to a buy rating in a report published on Saturday, Zacks.com reports. They currently have $18.00 target price on the stock.
According to Zacks, “Zymeworks Inc. is a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The companys lead product candidate includes ZW25 and ZW33 which are in clinical trial stage. Zymeworks Inc. is headquartered in Vancouver, Canada. “
A number of other research firms also recently issued reports on ZYME. Raymond James reissued an outperform rating and set a $29.00 price target on shares of Zymeworks in a research report on Friday, March 8th. ValuEngine raised Zymeworks from a hold rating to a buy rating in a research report on Monday, January 7th. Finally, TheStreet raised Zymeworks from a d rating to a c- rating in a research report on Friday, January 11th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $23.43.
ZYME stock opened at $15.89 on Friday. Zymeworks has a 12-month low of $10.72 and a 12-month high of $29.00. The stock has a market cap of $488.46 million, a price-to-earnings ratio of -12.61 and a beta of 1.48.
Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Wednesday, March 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.19. Zymeworks had a negative return on equity of 23.17% and a negative net margin of 68.95%. The firm had revenue of $28.93 million during the quarter, compared to the consensus estimate of $65.00 million. As a group, equities research analysts forecast that Zymeworks will post -2.37 EPS for the current year.
In other news, CEO Ali Tehrani sold 3,000 shares of the company’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $16.24, for a total value of $48,720.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Eli & Co Lilly sold 250,000 shares of the company’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $16.00, for a total value of $4,000,000.00. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of Zymeworks by 17.9% in the fourth quarter. Bank of Montreal Can now owns 4,380 shares of the company’s stock worth $64,000 after buying an additional 665 shares during the period. K.J. Harrison & Partners Inc boosted its position in shares of Zymeworks by 25.0% in the fourth quarter. K.J. Harrison & Partners Inc now owns 15,000 shares of the company’s stock worth $219,000 after buying an additional 3,000 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Zymeworks in the fourth quarter worth about $225,000. Fosun International Ltd purchased a new stake in shares of Zymeworks in the fourth quarter worth about $1,030,000. Finally, Jane Street Group LLC purchased a new stake in shares of Zymeworks in the fourth quarter worth about $1,127,000. 28.37% of the stock is owned by institutional investors.
Zymeworks Company Profile
Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.
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