Zymeworks Inc. (NASDAQ:ZYME) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Zymeworks Inc. (NASDAQ:ZYME) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $38.00.

A number of analysts recently weighed in on ZYME shares. HC Wainwright upped their target price 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. Stifel Nicolaus boosted their price target on Zymeworks from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Wells Fargo & Company boosted their price target on Zymeworks from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Truist Financial raised Zymeworks to a “strong-buy” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zymeworks in a research note on Monday, April 20th.

Hedge Funds Weigh In On Zymeworks

Several institutional investors have recently added to or reduced their stakes in the company. Rubric Capital Management LP lifted its holdings in Zymeworks by 22.1% during the 4th quarter. Rubric Capital Management LP now owns 5,750,000 shares of the company’s stock valued at $151,398,000 after purchasing an additional 1,039,449 shares during the last quarter. Perceptive Advisors LLC lifted its holdings in Zymeworks by 56.0% during the 4th 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 last quarter. Vanguard Group Inc. lifted its holdings in Zymeworks by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 2,328,727 shares of the company’s stock valued at $61,315,000 after purchasing an additional 174,293 shares during the last quarter. Vestal Point Capital LP lifted its holdings in Zymeworks by 53.5% during the 3rd quarter. Vestal Point Capital LP now owns 1,765,000 shares of the company’s stock valued at $30,146,000 after purchasing an additional 615,000 shares during the last quarter. Finally, Siren L.L.C. bought a new position in Zymeworks during the 4th quarter valued at about $44,238,000. 92.89% of the stock is owned by institutional investors.

Zymeworks Price Performance

NASDAQ ZYME opened at $23.93 on Monday. The stock has a market cap of $1.75 billion, a P/E ratio of -17.47 and a beta of 1.20. The company’s 50-day simple moving average is $25.62 and its 200 day simple moving average is $24.32. Zymeworks has a twelve month low of $11.02 and a twelve month high of $29.75.

Zymeworks (NASDAQ:ZYME) last posted its earnings results on Tuesday, March 31st. The company reported ($0.59) earnings per share for the quarter. The business had revenue of $2.41 million during the quarter. Zymeworks had a negative net margin of 126.92% and a negative return on equity of 37.97%. Research analysts anticipate that Zymeworks will post 1.64 earnings per share for the current year.

Zymeworks declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 14th that permits the company to buyback $125.00 million in shares. This buyback authorization permits the company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

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.