Zymeworks (NASDAQ:ZYME) Hits New 1-Year High – What’s Next?

Shares of Zymeworks Inc. (NASDAQ:ZYME) hit a new 52-week high during trading on Wednesday . The company traded as high as $28.81 and last traded at $28.0730, with a volume of 106166 shares trading hands. The stock had previously closed at $28.27.

Wall Street Analysts Forecast Growth

ZYME has been the subject of a number of research reports. Leerink Partners raised their price objective on shares of Zymeworks from $52.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. HC Wainwright raised their price target on shares of Zymeworks from $32.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zymeworks in a research note on Monday. Finally, Stifel Nicolaus raised their target price on Zymeworks from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.89.

Zymeworks Price Performance

The company’s 50-day moving average price is $24.68 and its two-hundred day moving average price is $23.36. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -26.37 and a beta of 1.20.

Zymeworks (NASDAQ:ZYME) last issued its quarterly earnings results on Saturday, February 14th. The company reported ($0.55) EPS for the quarter. Zymeworks had a negative net margin of 76.56% and a negative return on equity of 26.00%. The firm had revenue of $2.52 million for the quarter. On average, equities research analysts expect that Zymeworks Inc. will post 0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Zymeworks

Several institutional investors have recently added to or reduced their stakes in ZYME. Siren L.L.C. bought a new stake in shares of Zymeworks in the 4th quarter valued at $44,238,000. Perceptive Advisors LLC raised its holdings in shares of Zymeworks by 56.0% during the fourth quarter. Perceptive Advisors LLC now owns 3,261,850 shares of the company’s stock valued at $85,885,000 after purchasing an additional 1,171,187 shares during the period. Rubric Capital Management LP boosted its position in shares of Zymeworks by 22.1% during the 4th quarter. Rubric Capital Management LP now owns 5,750,000 shares of the company’s stock worth $151,398,000 after purchasing an additional 1,039,449 shares in the last quarter. Capricorn Fund Managers Ltd acquired a new stake in shares of Zymeworks in the 4th quarter valued at about $26,931,000. Finally, Millennium Management LLC increased its position in Zymeworks by 851.6% in the 3rd quarter. Millennium Management LLC now owns 1,104,813 shares of the company’s stock valued at $18,870,000 after buying an additional 988,711 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

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.