Zymeworks (NYSE:ZYME) Upgraded at JPMorgan Chase & Co.

Zymeworks (NYSE:ZYME) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm presently has a $18.00 price target on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 43.08% from the stock’s current price.

A number of other research firms also recently commented on ZYME. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. Citigroup upped their price target on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus boosted their target price on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company downgraded Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 target price for the company. in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.83.

Zymeworks Price Performance

NYSE ZYME opened at $12.58 on Monday. The firm has a market capitalization of $866.51 million, a PE ratio of -8.39 and a beta of 1.12. Zymeworks has a 12 month low of $7.97 and a 12 month high of $17.70. The company’s 50 day simple moving average is $14.11 and its 200 day simple moving average is $11.72.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. During the same quarter in the previous year, the business earned ($0.41) EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Sell-side analysts anticipate that Zymeworks will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. FMR LLC boosted its position in Zymeworks by 84.2% during the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after acquiring an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Zymeworks in the third quarter worth approximately $47,000. Quest Partners LLC boosted its holdings in shares of Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after purchasing an additional 9,096 shares during the period. nVerses Capital LLC purchased a new position in Zymeworks during the third quarter valued at approximately $79,000. Finally, MQS Management LLC purchased a new position in Zymeworks during the second quarter valued at approximately $92,000. 92.89% of the stock is owned by institutional investors and hedge funds.

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.