Zymeworks (NASDAQ:ZYME) Price Target Raised to $38.00

Zymeworks (NASDAQ:ZYME) had its price objective lifted by Citigroup from $37.00 to $38.00 in a research report report published on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities analysts have also issued reports on ZYME. B. Riley Financial reiterated a “buy” rating and issued a $44.00 target price (up from $40.00) on shares of Zymeworks in a research note on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zymeworks in a research report on Friday, July 17th. HC Wainwright raised their price target on shares of Zymeworks from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus set a $46.00 price objective on shares of Zymeworks in a research report on Friday, August 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Zymeworks from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Zymeworks Trading Down 2.6%

Shares of NASDAQ:ZYME opened at $28.27 on Wednesday. Zymeworks has a 12-month low of $13.60 and a 12-month high of $30.62. The business’s fifty day simple moving average is $24.95 and its 200-day simple moving average is $24.84. The company has a market capitalization of $2.01 billion, a PE ratio of -14.00 and a beta of 1.15.

Zymeworks (NASDAQ:ZYME) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). The company had revenue of $3.23 million for the quarter, compared to analysts’ expectations of $4.54 million. Zymeworks had a negative return on equity of 72.30% and a negative net margin of 405.31%.The company’s revenue for the quarter was down 90.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 earnings per share. Research analysts predict that Zymeworks will post 1.37 EPS for the current year.

Zymeworks declared that its Board of Directors has authorized a stock buyback program on Thursday, May 14th that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Nykredit A S purchased a new stake in Zymeworks in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Zymeworks in the fourth quarter worth about $37,000. Quarry LP purchased a new stake in shares of Zymeworks during the third quarter worth about $50,000. Tower Research Capital LLC TRC grew its stake in shares of Zymeworks by 29.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock worth $62,000 after acquiring an additional 1,131 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Zymeworks during the second quarter valued at about $73,000. 92.89% of the stock is owned by institutional investors and hedge funds.

More Zymeworks News

Here are the key news stories impacting Zymeworks this week:

• Positive Sentiment: The U.S. Food and Drug Administration approved Ziihera (zanidatamab-hrii), both with and without tislelizumab plus chemotherapy, for first-line treatment of HER2-positive advanced gastroesophageal adenocarcinoma. The expanded approval broadens Zymeworks’ commercial opportunity and could improve the long-term revenue outlook for its lead product. FDA approves Ziihera for first-line HER2-positive advanced gastroesophageal cancer
• Positive Sentiment: HC Wainwright maintained a Buy rating and a $55 price target while sharply raising its earnings outlook. Its FY2026 EPS estimate increased to $1.51 from $0.31, and its FY2027 estimate moved to $1.32 from a prior loss estimate of $1.72 per share. The firm also raised several quarterly forecasts, signaling greater confidence in Ziihera-related earnings potential. HC Wainwright raises Zymeworks earnings estimates
• Positive Sentiment: Citigroup reportedly forecast substantial price appreciation, while Citizens JMP assigned Zymeworks a market outperform rating. These calls add further analyst support following the FDA decision. Citigroup forecasts strong price appreciation for Zymeworks Citizens JMP rates Zymeworks market outperform
• Neutral Sentiment: The immediate catalyst is primarily regulatory and expectations-driven; investors will likely look for prescription growth, launch execution and evidence that the approval translates into sustainable revenue and earnings.

Zymeworks Company Profile

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.

At the core of Zymeworks’ innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.