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Zymeworks (NYSE:ZYME) Receives New Price Target of $8.00 at HC Wainwright

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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.

About Zymeworks

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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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Analyst Recommendations for Zymeworks (NYSE: ZYME)

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

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