Zymeworks (NYSE:ZYME) Price Target Raised to $13.00

Zymeworks (NYSE:ZYME) had its target price raised by HC Wainwright from $12.00 to $13.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock. HC Wainwright also issued estimates for Zymeworks’ Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.47) EPS, Q3 2025 earnings at ($0.51) EPS, Q4 2025 earnings at ($0.54) EPS and FY2025 earnings at ($1.95) EPS.

ZYME has been the topic of a number of other reports. Citigroup lifted their price objective on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th. Wells Fargo & Company increased their price target on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective for the company in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Zymeworks currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Zymeworks Trading Up 5.0 %

ZYME opened at $12.28 on Monday. Zymeworks has a 1 year low of $7.97 and a 1 year high of $17.70. The stock’s 50 day simple moving average is $14.01 and its 200-day simple moving average is $13.66. The stock has a market cap of $854.41 million, a PE ratio of -8.19 and a beta of 1.13.

Insiders Place Their Bets

In other Zymeworks news, insider Paul Andrew Moore sold 21,200 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $14.92, for a total transaction of $316,304.00. Following the completion of the sale, the insider now directly owns 14,741 shares of the company’s stock, valued at approximately $219,935.72. The trade was a 58.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ecor1 Capital, Llc bought 11,958 shares of Zymeworks stock in a transaction dated Tuesday, December 24th. The stock was acquired at an average cost of $14.12 per share, for a total transaction of $168,846.96. Following the purchase, the director now directly owns 14,704,239 shares in the company, valued at approximately $207,623,854.68. The trade was a 0.08 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 603,539 shares of company stock valued at $8,384,708 and have sold 89,601 shares valued at $1,336,847. Company insiders own 1.92% of the company’s stock.

Institutional Trading of Zymeworks

A number of institutional investors have recently bought and sold shares of the business. State Street Corp lifted its stake in shares of Zymeworks by 6.1% in the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after purchasing an additional 67,401 shares during the period. Barclays PLC grew its stake in shares of Zymeworks by 476.3% during the third quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after purchasing an additional 127,595 shares during the period. Vestal Point Capital LP increased its holdings in Zymeworks by 39.8% in the third quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock valued at $7,718,000 after purchasing an additional 175,000 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Zymeworks by 93.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock worth $9,403,000 after buying an additional 311,107 shares during the period. Finally, FMR LLC increased its stake in shares of Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after acquiring an additional 1,525 shares during the last quarter. Institutional investors and hedge funds 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.