Zymeworks (NASDAQ:ZYME) Upgraded by Truist Financial to Strong-Buy Rating

Zymeworks (NASDAQ:ZYME) was upgraded by investment analysts at Truist Financial to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other brokerages have also recently weighed in on ZYME. Zacks Research cut Zymeworks from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zymeworks in a research note on Wednesday, October 8th. Wells Fargo & Company raised shares of Zymeworks from an “equal weight” rating to an “overweight” rating and set a $33.00 target price on the stock in a research note on Friday, December 12th. B. Riley upgraded shares of Zymeworks to a “strong-buy” rating in a report on Thursday, October 9th. Finally, HC Wainwright raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Four research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $33.00.

Zymeworks Stock Performance

Shares of NASDAQ:ZYME opened at $26.40 on Wednesday. The stock has a market cap of $1.98 billion, a PE ratio of -31.43 and a beta of 1.27. The stock has a fifty day simple moving average of $21.81. Zymeworks has a 52 week low of $9.03 and a 52 week high of $28.49.

Zymeworks (NASDAQ:ZYME) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. Zymeworks had a negative net margin of 47.16% and a negative return on equity of 19.25%. The business had revenue of $27.61 million during the quarter, compared to analyst estimates of $28.27 million.

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.