Zymeworks (ZYME) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Zymeworks (NYSE:ZYME) from a buy rating to a hold rating in a research note released on Saturday morning.

According to Zacks, “Zymeworks Inc. is a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The companys lead product candidate includes ZW25 and ZW33 which are in clinical trial stage. Zymeworks Inc. is headquartered in Vancouver, Canada. “

Separately, Cormark reissued a buy rating on shares of Zymeworks in a research report on Saturday, September 30th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Zymeworks has a consensus rating of Hold and a consensus target price of $14.35.

Shares of Zymeworks (NYSE:ZYME) traded up $0.13 during midday trading on Friday, reaching $9.52. The company’s stock had a trading volume of 15,081 shares, compared to its average volume of 12,834. Zymeworks has a 1 year low of $6.25 and a 1 year high of $14.25.

A hedge fund recently bought a new stake in Zymeworks stock. Franklin Resources Inc. acquired a new position in shares of Zymeworks Inc (NYSE:ZYME) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 823,700 shares of the company’s stock, valued at approximately $6,878,000. Franklin Resources Inc. owned 3.30% of Zymeworks as of its most recent SEC filing. Institutional investors and hedge funds own 7.20% of the company’s stock.

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About Zymeworks

Zymeworks Inc is a Canada-based clinical-stage biopharmaceutical company. The Company focuses on the discovery, development and commercialization of multifunctional biotherapeutics. The Company’s ZymeCAD platform is for protein modeling and structure-guided protein engineering. The Company’s platforms include Azymetric Platform, AlbuCORE Platform, EFECT Platform and Zymelink Conjugation Platform + Cytotoxins.

Analyst Recommendations for Zymeworks (NYSE:ZYME)

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