Brokerages Set Zymeworks Inc (NYSE:ZYME) PT at $30.67

Zymeworks Inc (NYSE:ZYME) has earned an average recommendation of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $30.67.

A number of equities analysts have recently commented on ZYME shares. Barclays increased their price objective on shares of Zymeworks from $15.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Zacks Investment Research upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research note on Thursday, June 27th. Wells Fargo & Co increased their price objective on shares of Zymeworks from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. ValuEngine downgraded shares of Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Finally, Deutsche Bank started coverage on shares of Zymeworks in a research note on Thursday, July 18th. They set a “buy” rating and a $34.00 price objective for the company.

Several institutional investors have recently bought and sold shares of ZYME. Advisor Group Inc. boosted its stake in shares of Zymeworks by 42.7% during the 2nd quarter. Advisor Group Inc. now owns 1,806 shares of the company’s stock worth $40,000 after buying an additional 540 shares during the last quarter. Bank of Montreal Can lifted its stake in Zymeworks by 36.1% in the 1st quarter. Bank of Montreal Can now owns 5,960 shares of the company’s stock valued at $96,000 after purchasing an additional 1,580 shares during the last quarter. TD Asset Management Inc. acquired a new stake in Zymeworks in the 2nd quarter valued at about $258,000. Granite Investment Partners LLC lifted its stake in Zymeworks by 87.8% in the 1st quarter. Granite Investment Partners LLC now owns 27,277 shares of the company’s stock valued at $441,000 after purchasing an additional 12,750 shares during the last quarter. Finally, First Republic Investment Management Inc. acquired a new stake in Zymeworks in the 1st quarter valued at about $548,000. Institutional investors own 29.44% of the company’s stock.

Shares of Zymeworks stock traded up $0.83 during trading hours on Thursday, reaching $24.57. 139,493 shares of the company’s stock were exchanged, compared to its average volume of 200,945. The business’s 50 day moving average is $23.41. Zymeworks has a fifty-two week low of $10.72 and a fifty-two week high of $25.71. The company has a current ratio of 9.07, a quick ratio of 6.76 and a debt-to-equity ratio of 0.02. The firm has a market cap of $930.08 million, a PE ratio of -19.50 and a beta of 1.47.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.

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Analyst Recommendations for Zymeworks (NYSE:ZYME)

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