Zymeworks (NYSE:ZYME) Given New $12.00 Price Target at HC Wainwright

Zymeworks (NYSE:ZYME) had its price target hoisted by HC Wainwright from $10.00 to $12.00 in a research report released on Wednesday, Benzinga reports. HC Wainwright currently has a neutral rating on the stock. HC Wainwright also issued estimates for Zymeworks’ Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.50) EPS, Q3 2025 earnings at ($0.53) EPS, Q4 2025 earnings at ($0.55) EPS and FY2025 earnings at ($2.05) EPS.

Separately, Stifel Nicolaus upped their target price on Zymeworks from $20.00 to $21.00 and gave the company a buy rating in a research report on Friday, August 2nd.

Zymeworks Stock Performance

NYSE:ZYME opened at $12.42 on Wednesday. The stock’s 50-day simple moving average is $11.28 and its 200 day simple moving average is $9.93. The company has a market cap of $878.16 million, a P/E ratio of -6.94 and a beta of 1.19. Zymeworks has a 52-week low of $6.01 and a 52-week high of $13.27.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.01. Zymeworks had a negative net margin of 179.42% and a negative return on equity of 21.97%. The company had revenue of $19.24 million for the quarter, compared to analyst estimates of $23.16 million. During the same period in the previous year, the business earned ($0.76) EPS. As a group, equities analysts predict that Zymeworks will post -0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zymeworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZYME. AlphaMark Advisors LLC bought a new stake in shares of Zymeworks during the first quarter worth $32,000. Quest Partners LLC boosted its stake in shares of Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after purchasing an additional 9,096 shares in the last quarter. MQS Management LLC bought a new stake in shares of Zymeworks during the second quarter worth about $92,000. Arizona State Retirement System increased its stake in shares of Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after buying an additional 1,285 shares during the period. Finally, Tocqueville Asset Management L.P. acquired a new stake in Zymeworks during the 1st quarter worth approximately $117,000. 92.89% of the stock is currently owned by institutional investors.

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.