Wells Fargo & Company Lowers Zymeworks (NYSE:ZYME) Price Target to $12.00

Zymeworks (NYSE:ZYME) had its price objective decreased by analysts at Wells Fargo & Company from $14.00 to $12.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 30.43% from the stock’s current price.

Zymeworks Price Performance

Shares of ZYME opened at $9.20 on Friday. Zymeworks has a one year low of $6.01 and a one year high of $13.14. The firm has a market capitalization of $649.23 million, a P/E ratio of -5.14 and a beta of 1.16. The business has a fifty day moving average of $10.12 and a 200 day moving average of $9.71.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.19. Zymeworks had a negative return on equity of 28.24% and a negative net margin of 249.63%. The company had revenue of $16.93 million during the quarter, compared to analyst estimates of $18.32 million. Analysts expect that Zymeworks will post -1.04 EPS for the current fiscal year.

Institutional Trading of Zymeworks

Several large investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Zymeworks during the third quarter valued at about $158,000. Bank of New York Mellon Corp grew its holdings in Zymeworks by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 139,415 shares of the company’s stock valued at $884,000 after purchasing an additional 2,315 shares during the period. Strs Ohio grew its holdings in Zymeworks by 146.4% during the third quarter. Strs Ohio now owns 82,800 shares of the company’s stock valued at $524,000 after purchasing an additional 49,200 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Zymeworks by 359.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 189,444 shares of the company’s stock valued at $1,201,000 after purchasing an additional 148,212 shares during the period. Finally, Picton Mahoney Asset Management grew its holdings in Zymeworks by 2.5% during the third quarter. Picton Mahoney Asset Management now owns 358,818 shares of the company’s stock valued at $2,275,000 after purchasing an additional 8,654 shares during the period. Institutional investors own 92.89% of the company’s stock.

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.