Zymeworks Inc. (NASDAQ:ZYME) Stock Has Consensus Price Target of $40.64 According to Analysts

Zymeworks Inc. (NASDAQ:ZYME) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $40.64.

ZYME has been the subject of several research reports. Stifel Nicolaus set a $46.00 price target on Zymeworks in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft set a $32.00 target price on shares of Zymeworks in a report on Wednesday, August 26th. TD Cowen began coverage on shares of Zymeworks in a research note on Tuesday, September 29th. They set a “buy” rating and a $34.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Zymeworks from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Finally, Wells Fargo & Company raised their price target on Zymeworks from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th.

Zymeworks Stock Performance

Shares of NASDAQ ZYME opened at $28.11 on Thursday. The firm has a market capitalization of $1.99 billion, a P/E ratio of -13.92 and a beta of 1.17. Zymeworks has a one year low of $16.00 and a one year high of $31.34. The company’s fifty day moving average is $27.00 and its two-hundred day moving average is $25.67.

Zymeworks (NASDAQ:ZYME) last issued its earnings results on Friday, August 7th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Zymeworks had a negative return on equity of 72.30% and a negative net margin of 405.31%. The company had revenue of $3.23 million for the quarter, compared to analyst estimates of $4.54 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s quarterly revenue was down 90.6% compared to the same quarter last year. On average, sell-side analysts forecast that Zymeworks will post 1.20 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Adam Schayowitz sold 13,832 shares of the company’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $25.85, for a total value of $357,557.20. Following the sale, the executive vice president directly owned 23,205 shares in the company, valued at $599,849.25. This represents a 37.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 33.51% of the stock is owned by corporate insiders.

Institutional Trading of Zymeworks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rubric Capital Management LP raised its position in shares of Zymeworks by 21.7% in the first quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock valued at $175,280,000 after buying an additional 1,250,000 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Zymeworks during the 2nd quarter worth $111,122,000. Perceptive Advisors LLC boosted its holdings in shares of Zymeworks by 7.6% during the first quarter. Perceptive Advisors LLC now owns 3,510,078 shares of the company’s stock worth $87,892,000 after purchasing an additional 248,228 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Zymeworks by 20.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,508,069 shares of the company’s stock worth $39,949,000 after purchasing an additional 256,042 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Zymeworks by 6.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 743,898 shares of the company’s stock worth $18,627,000 after purchasing an additional 43,896 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Company Profile

Zymeworks Inc is a biopharmaceutical company focused on discovering, developing and commercializing multifunctional biotherapeutics for cancer and other serious diseases. The company is headquartered in Vancouver, British Columbia, and has historically operated internationally through research, development and collaboration activities.

Zymeworks’ technology platforms include Azymetric, which is designed to support the development of engineered antibody therapeutics, and ZymeLink, which enables the creation of antibody-drug conjugates and other targeted therapies.