Zymeworks (NYSE:ZYME) Raised to “Strong-Buy” at Leerink Partnrs

Leerink Partnrs upgraded shares of Zymeworks (NYSE:ZYME) from a hold rating to a strong-buy rating in a report released on Thursday morning,Zacks.com reports. Leerink Partnrs also issued estimates for Zymeworks’ Q4 2024 earnings at $0.70 EPS.

A number of other research firms have also weighed in on ZYME. Stifel Nicolaus boosted their target price on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Citigroup lifted their target price on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company cut shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price objective for the company. in a research report on Friday, November 1st. HC Wainwright reaffirmed a “neutral” rating and issued a $12.00 price objective on shares of Zymeworks in a research note on Friday, November 1st. Finally, Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and upped their price target for the company from $10.00 to $25.00 in a report on Thursday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.00.

Zymeworks Trading Up 0.3 %

Shares of Zymeworks stock traded up $0.05 during trading hours on Thursday, reaching $16.82. 254,818 shares of the company’s stock were exchanged, compared to its average volume of 625,309. The company has a fifty day moving average of $12.90 and a 200-day moving average of $10.64. Zymeworks has a 52-week low of $6.83 and a 52-week high of $17.26. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -11.18 and a beta of 1.16.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. The business had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.41) EPS. On average, equities research analysts anticipate that Zymeworks will post -1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new position in Zymeworks in the 1st quarter valued at approximately $579,000. O Shaughnessy Asset Management LLC grew its stake in shares of Zymeworks by 51.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 255,497 shares of the company’s stock worth $2,688,000 after buying an additional 86,797 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Zymeworks in the 2nd quarter valued at approximately $1,683,000. Rubric Capital Management LP increased its position in Zymeworks by 12.7% during the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock valued at $33,336,000 after acquiring an additional 441,947 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in Zymeworks by 401.9% in the second quarter. Squarepoint Ops LLC now owns 73,324 shares of the company’s stock worth $624,000 after purchasing an additional 58,716 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company’s lead product candidates include zanidatamab, a human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.