Zymeworks (ZYME) Given a $36.00 Price Target by Raymond James Analysts

Raymond James set a $36.00 price target on Zymeworks (NYSE:ZYME) in a research report sent to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also recently commented on ZYME. Zacks Investment Research restated a hold rating on shares of Zymeworks in a research note on Saturday, May 4th. Canaccord Genuity set a $23.00 price objective on shares of Zymeworks and gave the company a buy rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Co lifted their price objective on shares of Zymeworks from $37.00 to $42.00 and gave the company an outperform rating in a research note on Monday, April 22nd. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $28.40.

NYSE ZYME traded down $0.01 on Wednesday, hitting $18.13. 860 shares of the company’s stock traded hands, compared to its average volume of 138,428. The company has a current ratio of 6.76, a quick ratio of 6.76 and a debt-to-equity ratio of 0.04. Zymeworks has a 1-year low of $10.72 and a 1-year high of $29.00. The stock has a market cap of $595.28 million, a price-to-earnings ratio of -14.47 and a beta of 1.58.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.09. Zymeworks had a negative net margin of 44.67% and a negative return on equity of 16.41%. The business had revenue of $11.93 million during the quarter. Analysts forecast that Zymeworks will post -2.38 EPS for the current year.

In related news, CEO Ali Tehrani sold 3,000 shares of the business’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of $16.24, for a total value of $48,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Neil A. Klompas sold 8,308 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $19.23, for a total transaction of $159,762.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,108 shares of company stock valued at $223,843. Company insiders own 4.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of ZYME. Bank of Montreal Can raised its position in Zymeworks by 17.9% during the fourth quarter. Bank of Montreal Can now owns 4,380 shares of the company’s stock worth $64,000 after acquiring an additional 665 shares during the period. K.J. Harrison & Partners Inc raised its position in Zymeworks by 25.0% during the fourth quarter. K.J. Harrison & Partners Inc now owns 15,000 shares of the company’s stock worth $219,000 after acquiring an additional 3,000 shares during the period. SG Americas Securities LLC acquired a new position in Zymeworks during the fourth quarter worth $225,000. JPMorgan Chase & Co. acquired a new position in Zymeworks during the first quarter worth $305,000. Finally, Granite Investment Partners LLC raised its position in Zymeworks by 87.8% during the first quarter. Granite Investment Partners LLC now owns 27,277 shares of the company’s stock worth $441,000 after acquiring an additional 12,750 shares during the period. Hedge funds and other institutional investors own 28.73% of the company’s stock.

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.

Recommended Story: CBOE Russell 2000® Volatility Index

Receive News & Ratings for Zymeworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zymeworks and related companies with MarketBeat.com's FREE daily email newsletter.