Zymeworks (NYSE:ZYME) Receives Neutral Rating from HC Wainwright

Zymeworks (NYSE:ZYME - Get Free Report) has had its "neutral" rating maintained by analysts at HC Wainwright, according to a recent report released to investors on Friday. The analysts have established a target price of $12.00 for the stock. This price target implies a potential downside of approximately 12.41% from the stock's last closing price.

Analysts' Perspectives on Zymeworks

Besides HC Wainwright's assessment, several other analysts have weighed in on Zymeworks. Stifel Nicolaus increased their target price for the company from $21.00 to $28.00 and has given Zymeworks a "buy" rating based on their latest research noted on Monday. On the other hand, Wells Fargo & Company downgraded Zymeworks from an "overweight" rating to an "equal weight" rating, maintaining a $12.00 price target on the stock.

Zymeworks Stock Performance

As of Friday, shares of Zymeworks opened at $13.70. The stock's 50-day moving average stands at $12.50, while its 200-day moving average is at $10.40. Currently, Zymeworks boasts a market capitalization of $973.39 million, with a P/E ratio of -9.01 and a beta of 1.20. Over the past year, the stock has seen a low of $6.79 and a high of $14.05.

In its latest earnings announcement on October 31st, Zymeworks reported a loss of $0.39 per share, which was slightly better than analysts' expectations of a loss of $0.40 per share. Despite this, the company continues to show a negative net margin of 179.42% and a negative return on equity of 21.97%. For the last quarter, Zymeworks generated revenue of $16.00 million, falling short of the $17.90 million forecasted by analysts. This performance indicated a modest decline of 3.1% in quarterly revenue compared to the same period last year. Analysts currently predict Zymeworks will report -0.92 earnings per share for the current fiscal year.

Institutional Investment in Zymeworks

Recent data indicates that several large investors are adjusting their stakes in Zymeworks. DekaBank Deutsche Girozentrale made a new investment in Zymeworks during the third quarter worth around $47,000. Meanwhile, Quest Partners LLC significantly boosted its position in the company by 8,049.6% during the second quarter, acquiring an additional 9,096 shares to reach a total of 9,209 shares valued at approximately $78,000. Other notable investments include nVerses Capital LLC and MQS Management LLC, which increased their holdings in Zymeworks as well. Overall, about 92.89% of the company's shares are held by institutional investors.

About Zymeworks

Zymeworks Inc is a clinical-stage biopharmaceutical company focused on discovering, developing, and commercializing biotherapeutics specifically aimed at treating cancer. The company's primary product candidates include zanidatamab, which targets human epidermal growth factor receptor 2 (HER2) and is involved in multiple clinical trials, and zanidatamab zovodotin, a HER2-targeted antibody-drug conjugate currently being studied in Phase 2 trials for advanced or metastatic HER2-expressing tumors.

Zymeworks, HC Wainwright, Stock