Zymeworks (NYSE:ZYME – Get a Rating) saw its price target lowered by HC Wainwright research analysts from $10.00 to $8.00 in a research note released on Wednesday, Briefing.com reports. The brokerage currently has a “neutral” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 2.56% from the current share price.
Other analysts have also released reports on the company. Jefferies Financial Group downgraded Zymeworks from a ‘hold’ rating to a ‘buy’ rating and raised its share price target from $7.70 to $11.00 in a Monday, December 19 research report . Stifel Nicolaus lowered his price target on Zymeworks from $21.00 to $18.00 and set a “buy” rating on the stock in a Monday, October 24 report. Barclays raised its target price on Zymeworks from $7.00 to $9.00 and gave the company an “equal weight” rating in a Thursday, December 22 research note. Citigroup lowered its price target on Zymeworks shares from $27.00 to $21.00 in a Wednesday, September 14 research note. Finally, Wells Fargo & Company cut its price target on Zymeworks shares from $45.00 to $9.00 and set an “overweight” rating on the stock in a Tuesday, Oct. 4 research note. Three equity research analysts gave the stock a hold rating and seven gave the stock a buy rating. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.00.
Zymeworks trades up 3.4%
NYSE:ZYME traded $0.26 on Wednesday during trading hours, hitting $7.80. The stock recorded a trading volume of 1,641 shares, compared to an average volume of 1,925,977. The company has a market capitalization of $491.40 million, a PE ratio of -2.04 and a beta of 1 ,09. The company has a 50-day simple moving average of $7.50 and a two-hundred-day simple moving average of $6.52. Zymeworks has a 1-year minimum of $4.11 and a 1-year maximum of $17.27.
Zymeworks (NYSE:ZYME – Get Rating) last released its quarterly results on Tuesday, November 8. The company reported ($0.72) earnings per share for the quarter, beating analyst consensus estimates of ($0.94) by $0.22. Zymeworks had a negative net margin of 751.00% and a negative return on equity of 89.24%. The company posted revenue of $2.63 million in the quarter, versus analyst estimates of $4.74 million. Research analysts expect Zymeworks to post EPS of 0.24 for the current fiscal year.
Institutional entries and exits
A number of large investors have recently changed their ZYME holdings. Walleye Capital LLC acquired a new stake in Zymeworks during the first quarter valued at approximately $1,810,000. Silverarc Capital Management LLC acquired a new stake in shares of Zymeworks during Q2 worth approximately $1,104,000. Lynwood Capital Management Inc. purchased a new stake in shares of Zymeworks in Q2 for a value of approximately $1,590,000. North Growth Management Ltd. acquired a new position in Zymeworks during Q2 worth approximately $399,000. Finally, Platinum Investment Management Ltd. increased its stake in Zymeworks by 25.6% during the 2nd quarter. Platinum Investment Management Ltd. now owns 295,486 shares of the company worth $1,566,000 after purchasing an additional 60,187 shares in the last quarter. 88.28% of the shares are currently held by institutional investors.
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Zymeworks Inc, a clinical-stage biopharmaceutical company, discovers, develops and markets biotherapeutics for the treatment of cancer. The Company’s lead product candidates include zanidatamab, a novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinoma, breast and colorectal cancer ; and ZW49, a biparatopic anti-human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in a Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.
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