Weekly Research Analysts’ Ratings Updates for Zymeworks (ZYME)

A number of research firms have changed their ratings and price targets for Zymeworks (NYSE: ZYME):

• 11/7/2024 – Zymeworks was upgraded by analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating.
• 11/7/2024 – Zymeworks was upgraded by analysts at Leerink Partners from a “market perform” rating to an “outperform” rating. They now have a $25.00 price target on the stock, up previously from $10.00.
• 11/4/2024 – Zymeworks had its price target raised by analysts at Citigroup Inc. from $16.00 to $18.00. They now have a “buy” rating on the stock.
• 11/1/2024 – Zymeworks had its “neutral” rating reaffirmed by analysts at HC Wainwright. They now have a $12.00 price target on the stock.
• 11/1/2024 – Zymeworks was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating. They now have a $12.00 price target on the stock.
• 10/28/2024 – Zymeworks had its price target raised by analysts at Stifel Nicolaus from $21.00 to $28.00. They now have a “buy” rating on the stock.
• 10/22/2024 – Zymeworks had its “neutral” rating reaffirmed by analysts at HC Wainwright. They now have a $12.00 price target on the stock.
• 9/25/2024 – Zymeworks had its price target raised by analysts at HC Wainwright from $10.00 to $12.00. They now have a “neutral” rating on the stock.
• 9/18/2024 – Zymeworks had its “neutral” rating reaffirmed by analysts at HC Wainwright. They now have a $10.00 price target on the stock.

Zymeworks Trading Down 1.0 %

ZYME traded down $0.18 on Wednesday, hitting $17.22. 43,709 shares of the company were exchanged, compared to its average volume of 624,061. Zymeworks Inc. has a twelve month low of $7.42 and a twelve month high of $17.70. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -11.48 and a beta of 1.16. The firm has a 50-day moving average price of $13.23 and a two-hundred day moving average price of $10.85.

Zymeworks (NYSE:ZYME) last released its earnings results 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 analysts’ expectations of $17.90 million. During the same period in the previous year, the firm posted ($0.41) EPS. Zymeworks’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities analysts expect that Zymeworks Inc. will post -1.01 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Zymeworks by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock worth $1,667,000 after acquiring an additional 650 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Zymeworks by 2.9% during the 1st quarter. California State Teachers Retirement System now owns 43,420 shares of the company’s stock worth $457,000 after acquiring an additional 1,215 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Zymeworks by 11.1% in the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after purchasing an additional 1,285 shares during the period. ProShare Advisors LLC boosted its position in shares of Zymeworks by 11.1% in the 1st quarter. ProShare Advisors LLC now owns 14,952 shares of the company’s stock valued at $157,000 after purchasing an additional 1,499 shares during the period. Finally, SummerHaven Investment Management LLC boosted its position in shares of Zymeworks by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 90,158 shares of the company’s stock valued at $767,000 after purchasing an additional 1,772 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

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.