Zacks: Zymeworks Inc (ZYME) Receives Consensus Rating of “Strong Buy” from Analysts
Shares of Zymeworks Inc (NASDAQ:ZYME) have received a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.
Brokers have set a twelve-month consensus target price of $19.00 for the company and are predicting that the company will post ($0.62) EPS for the current quarter, according to Zacks. Zacks has also given Zymeworks an industry rank of 108 out of 265 based on the ratings given to related companies.
ZYME has been the subject of a number of recent research reports. Barclays PLC initiated coverage on shares of Zymeworks in a research note on Tuesday, May 23rd. They set an “overweight” rating and a $20.00 price objective for the company. Wells Fargo & Company initiated coverage on shares of Zymeworks in a research note on Tuesday, May 23rd. They set an “outperform” rating and a $20.00 price objective for the company. Canaccord Genuity initiated coverage on shares of Zymeworks in a research note on Tuesday, May 23rd. They set a “buy” rating and a $18.00 price objective for the company. Finally, Citigroup Inc. initiated coverage on shares of Zymeworks in a research note on Tuesday, May 23rd. They set a “buy” rating and a $18.00 price objective for the company.
A hedge fund recently bought a new stake in Zymeworks stock. Barometer Capital Management Inc. acquired a new position in Zymeworks Inc (NASDAQ:ZYME) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 58,000 shares of the company’s stock, valued at approximately $484,000. Barometer Capital Management Inc. owned 0.23% of Zymeworks at the end of the most recent reporting period.
Shares of Zymeworks (NASDAQ:ZYME) traded down 4.36% on Wednesday, hitting $6.81. The stock had a trading volume of 9,552 shares. Zymeworks has a one year low of $6.25 and a one year high of $14.25. The company’s 50 day moving average is $7.99 and its 200 day moving average is $9.97. The stock’s market cap is $169.84 million.
Zymeworks (NASDAQ:ZYME) last issued its earnings results on Monday, May 15th. The company reported ($1.13) earnings per share (EPS) for the quarter. Zymeworks had a negative net margin of 6,924.35% and a negative return on equity of 798,487.60%. The company had revenue of $0.23 million during the quarter. Equities research analysts predict that Zymeworks will post ($2.75) EPS for the current fiscal year.
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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.
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