Zymeworks (NYSE:ZYME) Price Target Raised to $28.00 at Stifel Nicolaus

Zymeworks (NYSE:ZYME) had its price objective boosted by Stifel Nicolaus from $21.00 to $28.00 in a report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, HC Wainwright reiterated a “neutral” rating and issued a $12.00 price objective on shares of Zymeworks in a report on Tuesday, October 22nd.

Zymeworks Price Performance

ZYME stock opened at $13.24 on Monday. The business has a 50 day simple moving average of $12.39 and a 200-day simple moving average of $10.35. The firm has a market capitalization of $936.13 million, a PE ratio of -7.40 and a beta of 1.20. Zymeworks has a 1 year low of $6.69 and a 1 year high of $14.05.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.01. The business had revenue of $19.24 million during the quarter, compared to analyst estimates of $23.16 million. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. During the same period in the prior year, the business earned ($0.76) earnings per share. On average, equities research analysts expect that Zymeworks will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ZYME. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Zymeworks during the first quarter worth $6,301,000. Perceptive Advisors LLC lifted its stake in Zymeworks by 55.2% during the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock worth $14,192,000 after purchasing an additional 592,904 shares in the last quarter. Rubric Capital Management LP lifted its stake in Zymeworks by 12.7% during the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after purchasing an additional 441,947 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Zymeworks by 127.5% during the second quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock worth $6,090,000 after purchasing an additional 401,068 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Zymeworks by 94.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 716,482 shares of the company’s stock worth $7,537,000 after purchasing an additional 348,441 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.