Zymeworks (NASDAQ:ZYME) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Zymeworks (NASDAQ:ZYME) from a buy rating to a hold rating in a research note published on Saturday morning.

ZYME has been the topic of a number of other reports. HC Wainwright upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Wells Fargo & Company upgraded Zymeworks to a “hold” rating in a research report on Friday, October 24th. Zacks Research upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. B. Riley raised Zymeworks to a “strong-buy” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zymeworks in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Zymeworks Stock Down 8.0%

NASDAQ ZYME opened at $16.46 on Friday. The firm’s 50 day moving average price is $16.96. Zymeworks has a one year low of $9.03 and a one year high of $19.98. The company has a market cap of $1.24 billion, a P/E ratio of -16.97 and a beta of 1.48.

Zymeworks (NASDAQ:ZYME) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04. The company had revenue of $27.61 million for the quarter, compared to analysts’ expectations of $28.27 million. Zymeworks had a negative net margin of 59.96% and a negative return on equity of 21.59%.

About Zymeworks

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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, and breast cancer; and ZW49, a biparatopic anti- human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.