Raymond James set a $36.00 price target on Zymeworks (NYSE:ZYME) in a research report sent to investors on Wednesday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.
A number of other equities analysts have also recently issued reports on the company. Deutsche Bank initiated coverage on Zymeworks in a report on Thursday, July 18th. They issued a buy rating and a $34.00 target price on the stock. Zacks Investment Research upgraded Zymeworks from a hold rating to a strong-buy rating and set a $26.00 target price on the stock in a report on Thursday, June 27th. ValuEngine cut Zymeworks from a buy rating to a hold rating in a report on Saturday, May 18th. Canaccord Genuity set a $23.00 target price on Zymeworks and gave the stock a buy rating in a report on Friday, May 3rd. Finally, Wells Fargo & Co increased their target price on Zymeworks from $37.00 to $42.00 and gave the stock an outperform rating in a report on Monday, April 22nd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Zymeworks currently has a consensus rating of Buy and an average price target of $32.20.
Shares of ZYME traded down $0.01 during trading hours on Wednesday, reaching $23.40. The stock had a trading volume of 121,659 shares, compared to its average volume of 240,600. Zymeworks has a 12 month low of $10.72 and a 12 month high of $25.71. The stock’s 50-day moving average is $22.94. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.76 and a quick ratio of 6.76. The firm has a market cap of $917.15 million, a P/E ratio of -18.57 and a beta of 1.47.
Zymeworks (NYSE:ZYME) last issued its earnings results on Thursday, May 2nd. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.09. Zymeworks had a negative return on equity of 16.41% and a negative net margin of 44.67%. The company had revenue of $11.93 million for the quarter. Sell-side analysts expect that Zymeworks will post -2.23 earnings per share for the current fiscal year.
In related news, CFO Neil A. Klompas sold 8,308 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $19.23, for a total value of $159,762.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. raised its position in Zymeworks by 42.7% in the 2nd quarter. Advisor Group Inc. now owns 1,806 shares of the company’s stock valued at $40,000 after buying an additional 540 shares during the last quarter. Bank of Montreal Can raised its position in Zymeworks by 36.1% in the 1st quarter. Bank of Montreal Can now owns 5,960 shares of the company’s stock valued at $96,000 after buying an additional 1,580 shares during the last quarter. TD Asset Management Inc. purchased a new stake in Zymeworks in the 2nd quarter valued at $258,000. Granite Investment Partners LLC raised its position in Zymeworks by 87.8% in the 1st quarter. Granite Investment Partners LLC now owns 27,277 shares of the company’s stock valued at $441,000 after buying an additional 12,750 shares during the last quarter. Finally, First Republic Investment Management Inc. purchased a new stake in Zymeworks in the 1st quarter valued at $548,000. 29.28% of the stock is owned by institutional investors and hedge funds.
Zymeworks Company Profile
Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.
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