Raymond James Financial began coverage on shares of Zymeworks (NYSE:ZYME) in a research report released on Monday, Marketbeat reports. The firm issued an outperform rating and a $18.00 price objective on the stock.
Separately, Zacks Investment Research lowered Zymeworks from a buy rating to a hold rating in a research note on Saturday, January 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $14.96.
Zymeworks stock opened at $12.18 on Monday. The company has a market capitalization of $314.45 and a PE ratio of -9.74. Zymeworks has a 12 month low of $6.25 and a 12 month high of $14.25.
A hedge fund recently raised its stake in Zymeworks stock. Perceptive Advisors LLC boosted its position in shares of Zymeworks Inc (NYSE:ZYME) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 777,497 shares of the company’s stock after acquiring an additional 46,729 shares during the period. Perceptive Advisors LLC owned approximately 3.06% of Zymeworks worth $5,549,000 at the end of the most recent quarter. 7.29% of the stock is currently owned by hedge funds and other institutional investors.
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Zymeworks Inc is a Canada-based biopharmaceutical company. The Company specializes in the discovery, development and commercialization of next-generation multifunctional biotherapeutics, initially focused on the treatment of cancer. The Company operates through a number of platforms, including Azymetric platform, which is developed for the development of IgG-like, novel bispecific antibodies for the targeting of synergistic drug targets; Albucore platform, which is developed as a flexible and alternative platform to antibodies where it is advantageous for multi-valent therapeutic to target multiple disease targets; Effect, which comprises a library of Fc modifications that can selectively modulate the activity of recruited immune cells, and the ZymeLink Conjugation platform, which is a suite of novel protein site-specific conjugation technologies and customizable cleavable and non-cleavable linkers that is compatible with a variety of small molecule therapeutics.
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