Zymeworks Inc (NYSE:ZYME) Given Average Recommendation of “Buy” by Analysts

Zymeworks Inc (NYSE:ZYME) has received a consensus recommendation of “Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $28.40.

Several analysts have recently weighed in on ZYME shares. Raymond James restated an “outperform” rating and set a $29.00 target price on shares of Zymeworks in a research note on Friday, March 8th. Zacks Investment Research downgraded Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Finally, Wells Fargo & Co raised their target price on Zymeworks from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd.

In related news, CEO Ali Tehrani sold 3,000 shares of Zymeworks 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Neil A. Klompas sold 8,308 shares of Zymeworks stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $19.23, for a total value of $159,762.84. The disclosure for this sale can be found here. Insiders sold 12,108 shares of company stock valued at $223,843 over the last quarter. Insiders own 4.80% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. FMR LLC bought a new position in Zymeworks in the fourth quarter worth about $8,173,000. SG Americas Securities LLC bought a new position in Zymeworks in the fourth quarter worth about $225,000. Acadian Asset Management LLC lifted its holdings in Zymeworks by 35.1% in the fourth quarter. Acadian Asset Management LLC now owns 113,399 shares of the company’s stock worth $1,667,000 after acquiring an additional 29,468 shares during the last quarter. Jane Street Group LLC bought a new position in Zymeworks in the fourth quarter worth about $1,127,000. Finally, First Republic Investment Management Inc. bought a new position in Zymeworks in the first quarter worth about $548,000. Institutional investors and hedge funds own 35.52% of the company’s stock.

Shares of Zymeworks stock traded up $0.09 during trading hours on Wednesday, hitting $22.49. 387,500 shares of the company’s stock traded hands, compared to its average volume of 174,638. The stock has a 50 day moving average of $19.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.76 and a current ratio of 6.76. The stock has a market cap of $703.72 million, a P/E ratio of -17.85 and a beta of 1.43. Zymeworks has a twelve month low of $10.72 and a twelve month high of $22.79.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, May 2nd. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.09. The company had revenue of $11.93 million during the quarter. Zymeworks had a negative return on equity of 16.41% and a negative net margin of 44.67%. As a group, sell-side analysts anticipate that Zymeworks will post -2.35 EPS for the current fiscal year.

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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