Zymeworks Inc (ZYME) Given Average Recommendation of “Buy” by Brokerages

Zymeworks Inc (NYSE:ZYME) has earned an average recommendation of “Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $16.40.

ZYME has been the topic of several research analyst reports. Raymond James Financial initiated coverage on shares of Zymeworks in a research report on Monday, March 19th. They issued an “outperform” rating and a $18.00 price target on the stock. Zacks Investment Research lowered shares of Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th.

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NYSE ZYME traded up $0.61 during midday trading on Monday, hitting $12.02. The company had a trading volume of 13,271 shares, compared to its average volume of 21,721. The firm has a market capitalization of $306.05 and a price-to-earnings ratio of -21.09. Zymeworks has a fifty-two week low of $6.25 and a fifty-two week high of $14.25.

An institutional investor recently raised its position in Zymeworks stock. Perceptive Advisors LLC lifted its holdings in shares of Zymeworks Inc (NYSE:ZYME) by 6.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 777,497 shares of the company’s stock after acquiring an additional 46,729 shares during the period. Perceptive Advisors LLC owned approximately 3.06% of Zymeworks worth $5,549,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 7.27% of the company’s stock.

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Zymeworks Company Profile

Zymeworks Inc is a Canada-based biopharmaceutical company. The Company specializes in the discovery, development and commercialization of next-generation multifunctional biotherapeutics, initially focused on the treatment of cancer. The Company operates through a number of platforms, including Azymetric platform, which is developed for the development of IgG-like, novel bispecific antibodies for the targeting of synergistic drug targets; Albucore platform, which is developed as a flexible and alternative platform to antibodies where it is advantageous for multi-valent therapeutic to target multiple disease targets; Effect, which comprises a library of Fc modifications that can selectively modulate the activity of recruited immune cells, and the ZymeLink Conjugation platform, which is a suite of novel protein site-specific conjugation technologies and customizable cleavable and non-cleavable linkers that is compatible with a variety of small molecule therapeutics.

Analyst Recommendations for Zymeworks (NYSE:ZYME)

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