HC Wainwright Cuts Zymeworks (NYSE:ZYME) Price Target to $40.00

Zymeworks (NYSE:ZYME – Get Rating) had its price objective lowered by analysts at HC Wainwright from $44.00 to $40.00 in a research report issued on Monday, The Fly reports.

Several other analysts have also recently commented on ZYME. Guggenheim upgraded shares of Zymeworks from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Thursday, May 5th. Zacks Investment Research lowered shares of Zymeworks from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Raymond James dropped their target price on shares of Zymeworks from $50.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, February 1st. Evercore ISI started coverage on shares of Zymeworks in a research report on Tuesday, March 15th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Citigroup decreased their target price on shares of Zymeworks from $53.00 to $30.00 in a research report on Monday, February 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Zymeworks has a consensus rating of “Buy” and a consensus price target of $28.56.

Shares of ZYME stock opened at $5.99 on Monday. The company has a 50 day simple moving average of $6.21 and a two-hundred day simple moving average of $10.89. The stock has a market cap of $346.05 million, a P/E ratio of -1.27 and a beta of 1.06. Zymeworks has a 12 month low of $4.56 and a 12 month high of $39.41.

Zymeworks (NYSE:ZYME – Get Rating) last released its quarterly earnings data on Thursday, February 24th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.11. The business had revenue of $19.87 million during the quarter, compared to analyst estimates of $12.69 million. Zymeworks had a negative net margin of 858.18% and a negative return on equity of 84.77%. On average, sell-side analysts predict that Zymeworks will post -3.72 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of ZYME. Bank of America Corp DE increased its stake in shares of Zymeworks by 9,548.2% during the 4th quarter. Bank of America Corp DE now owns 2,664,343 shares of the company’s stock valued at $43,668,000 after acquiring an additional 2,636,728 shares during the last quarter. Eventide Asset Management LLC grew its holdings in shares of Zymeworks by 90.8% during the 1st quarter. Eventide Asset Management LLC now owns 5,380,200 shares of the company’s stock worth $35,240,000 after purchasing an additional 2,561,065 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Zymeworks by 805.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,519,008 shares of the company’s stock worth $41,286,000 after purchasing an additional 2,240,800 shares during the period. FMR LLC grew its holdings in shares of Zymeworks by 331.4% during the 1st quarter. FMR LLC now owns 2,401,897 shares of the company’s stock worth $38,863,000 after purchasing an additional 1,845,142 shares during the period. Finally, Woodline Partners LP purchased a new stake in shares of Zymeworks during the 4th quarter worth about $20,625,000. 68.38% of the stock is owned by institutional investors.

About Zymeworks (Get Rating)

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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, breast, and colorectal cancer; and ZW49, a biparatopic anti-human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.

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