Zymeworks (NYSE:ZYME) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. initiated coverage on shares of Zymeworks (NYSE:ZYME) in a research note issued to investors on Monday, The Fly reports. The firm set a “neutral” rating and a $43.00 price target on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 2.80% from the company’s current price.

Several other research firms also recently issued reports on ZYME. Guggenheim assumed coverage on Zymeworks in a research note on Wednesday, November 27th. They set a “buy” rating and a $48.00 price target for the company. ValuEngine cut Zymeworks from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Stifel Nicolaus reissued a “buy” rating on shares of Zymeworks in a report on Thursday, November 21st. HC Wainwright initiated coverage on Zymeworks in a research report on Monday, November 25th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $42.45.

Shares of Zymeworks stock opened at $41.83 on Monday. Zymeworks has a 12-month low of $10.72 and a 12-month high of $45.58. The company has a current ratio of 6.81, a quick ratio of 6.81 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1.65 billion, a PE ratio of -33.20 and a beta of 1.53. The company has a 50-day moving average of $36.43 and a two-hundred day moving average of $26.93.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.76) by $0.06. The company had revenue of $7.86 million during the quarter, compared to the consensus estimate of $7.77 million. Zymeworks had a negative net margin of 112.95% and a negative return on equity of 25.72%. On average, sell-side analysts forecast that Zymeworks will post -2.9 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Truvestments Capital LLC raised its holdings in shares of Zymeworks by 100.0% in the 3rd quarter. Truvestments Capital LLC now owns 1,000 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares during the period. BlackRock Inc. increased its position in Zymeworks by 42.3% during the 2nd quarter. BlackRock Inc. now owns 1,679 shares of the company’s stock worth $37,000 after purchasing an additional 499 shares in the last quarter. HWG Holdings LP raised its holdings in Zymeworks by 181.2% in the third quarter. HWG Holdings LP now owns 1,732 shares of the company’s stock valued at $43,000 after buying an additional 1,116 shares during the period. Advisor Group Inc. lifted its position in Zymeworks by 42.7% during the second quarter. Advisor Group Inc. now owns 1,806 shares of the company’s stock valued at $40,000 after buying an additional 540 shares in the last quarter. Finally, Cutler Group LP lifted its position in Zymeworks by 1,050.0% during the third quarter. Cutler Group LP now owns 2,300 shares of the company’s stock valued at $57,000 after buying an additional 2,100 shares in the last quarter. Institutional investors own 54.28% 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.

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