TD Securities Begins Coverage on Zymeworks (NYSE:ZYME)

Investment analysts at TD Securities started coverage on shares of Zymeworks (NYSE:ZYME) in a report released on Tuesday,Benzinga reports. The firm set a “buy” rating on the stock.

ZYME has been the topic of a number of other reports. HC Wainwright boosted their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, March 10th. Citigroup boosted their price target on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Lifesci Capital began coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, TD Cowen began coverage on shares of Zymeworks in a report on Tuesday. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.00.

Zymeworks Price Performance

NYSE ZYME opened at $11.94 on Tuesday. Zymeworks has a 1 year low of $8.21 and a 1 year high of $17.70. The stock has a market capitalization of $830.75 million, a PE ratio of -7.96 and a beta of 1.24. The business’s 50-day moving average is $11.80 and its 200 day moving average is $13.36.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.15. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business had revenue of $27.11 million during the quarter, compared to analysts’ expectations of $20.65 million. During the same quarter last year, the business posted ($0.42) EPS. The business’s revenue was up 170.3% on a year-over-year basis. As a group, equities research analysts anticipate that Zymeworks will post -1.39 earnings per share for the current year.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc acquired 5,919 shares of the stock in a transaction on Monday, May 19th. The stock was acquired at an average price of $11.78 per share, for a total transaction of $69,725.82. Following the completion of the purchase, the director now owns 17,883,908 shares of the company’s stock, valued at $210,672,436.24. This represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 1,405,768 shares of company stock valued at $16,773,032 in the last three months. 1.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zymeworks

Several institutional investors and hedge funds have recently modified their holdings of ZYME. EcoR1 Capital LLC grew its position in Zymeworks by 14.8% during the 1st quarter. EcoR1 Capital LLC now owns 17,259,548 shares of the company’s stock valued at $205,561,000 after purchasing an additional 2,231,469 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Zymeworks by 184.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock worth $46,210,000 after buying an additional 2,514,834 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Zymeworks by 0.4% in the first quarter. Deutsche Bank AG now owns 1,552,612 shares of the company’s stock worth $18,492,000 after buying an additional 5,840 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Zymeworks by 14.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company’s stock valued at $14,240,000 after buying an additional 123,240 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of Zymeworks by 1.0% during the first quarter. Bridgeway Capital Management LLC now owns 766,944 shares of the company’s stock valued at $9,134,000 after acquiring an additional 7,291 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.

About Zymeworks

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.