Zymeworks Inc. (NYSE:ZYME) Receives $32.82 Consensus Target Price from Analysts

Zymeworks Inc. (NYSE:ZYME) has earned an average recommendation of “Buy” from the eleven research firms that are covering the company, MarketBeat Ratings reports. Eleven analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have covered the stock in the last year is $32.8182.

Several research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Zymeworks from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $25.00 to $33.00 in a research report on Friday, December 12th. JPMorgan Chase & Co. boosted their target price on shares of Zymeworks from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Citizens Jmp began coverage on shares of Zymeworks in a research report on Wednesday, December 3rd. They set a “market outperform” rating and a $32.00 target price on the stock. HC Wainwright increased their price target on shares of Zymeworks from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Finally, Stifel Nicolaus boosted their price objective on shares of Zymeworks from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th.

Insider Transactions at Zymeworks

In other Zymeworks news, CEO Kenneth Galbraith sold 54,343 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $25.10, for a total transaction of $1,364,009.30. Following the completion of the sale, the chief executive officer directly owned 158,286 shares of the company’s stock, valued at approximately $3,972,978.60. The trade was a 25.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Andrew Moore sold 20,110 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $25.10, for a total transaction of $504,761.00. Following the transaction, the insider owned 31,212 shares in the company, valued at approximately $783,421.20. The trade was a 39.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 132,519 shares of company stock worth $3,417,481 over the last 90 days. 33.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Zymeworks

A number of institutional investors and hedge funds have recently modified their holdings of the business. EcoR1 Capital LLC increased its stake in shares of Zymeworks by 33.1% in the 2nd quarter. EcoR1 Capital LLC now owns 22,970,388 shares of the company’s stock valued at $288,278,000 after acquiring an additional 5,710,840 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Zymeworks by 184.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock valued at $46,210,000 after purchasing an additional 2,514,834 shares during the period. Millennium Management LLC increased its stake in Zymeworks by 851.6% in the third quarter. Millennium Management LLC now owns 1,104,813 shares of the company’s stock valued at $18,870,000 after purchasing an additional 988,711 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Zymeworks by 169.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,326,774 shares of the company’s stock worth $22,661,000 after purchasing an additional 833,994 shares during the period. Finally, Vestal Point Capital LP raised its holdings in Zymeworks by 130.0% in the second quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company’s stock worth $14,432,000 after purchasing an additional 650,000 shares during the period. 92.89% of the stock is owned by institutional investors.

Zymeworks Price Performance

NYSE ZYME opened at $23.17 on Wednesday. The stock’s 50 day simple moving average is $24.23 and its 200 day simple moving average is $18.34. Zymeworks has a one year low of $9.03 and a one year high of $28.49. The firm has a market cap of $1.73 billion, a PE ratio of -15.45 and a beta of 1.30.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. The company had revenue of $27.61 million for the quarter, compared to analyst estimates of $33.69 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The business’s revenue was up 72.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.39) earnings per share. As a group, equities analysts expect that Zymeworks will post -1.39 earnings per share for the current year.

About Zymeworks

Zymeworks Inc is a clinical-stage biopharmaceutical company headquartered in Vancouver, British Columbia, with a focus on the discovery, development and commercialization of multifunctional biotherapeutics. Founded in 2003, the company applies proprietary protein engineering platforms to create novel antibody and protein-based therapies targeting oncology and other serious diseases. Zymeworks is publicly traded on the New York Stock Exchange under the symbol ZYME.

The company’s core technology platforms include Azymetric®, which enables the design of bispecific antibodies capable of engaging two distinct targets simultaneously, and the EFECT™ platform for fine-tuning antibody-drug conjugate properties.