Zymeworks’ (ZYME) Outperform Rating Reaffirmed at Raymond James

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Raymond James reissued their outperform rating on shares of Zymeworks (NYSE:ZYME) in a research report report published on Thursday morning, BayStreet.CA reports. They currently have a $36.00 target price on the stock. Raymond James also issued estimates for Zymeworks’ Q3 2019 earnings at ($0.56) EPS and FY2019 earnings at ($2.40) EPS.

A number of other equities research analysts have also recently commented on the company. Deutsche Bank increased their price target on eBay from $42.00 to $46.00 and gave the company a buy rating in a research note on Thursday. Canaccord Genuity set a $23.00 price target on Zymeworks and gave the company a buy rating in a research note on Friday, May 3rd. ValuEngine cut Zymeworks from a buy rating to a hold rating in a research note on Saturday, May 18th. Wells Fargo & Co set a $58.00 price target on Sonoco Products and gave the company a hold rating in a research note on Monday, April 22nd. Finally, Zacks Investment Research cut Green Plains from a hold rating to a strong sell rating in a research note on Thursday, June 27th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $30.00.

Shares of Zymeworks stock opened at $24.29 on Thursday. The firm has a fifty day simple moving average of $21.82. The company has a market cap of $951.63 million, a P/E ratio of -19.28 and a beta of 1.48. The company has a quick ratio of 6.76, a current ratio of 6.76 and a debt-to-equity ratio of 0.04. Zymeworks has a 52 week low of $10.72 and a 52 week high of $25.71.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.43) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.09. The company had revenue of $11.93 million for the quarter. Zymeworks had a negative return on equity of 16.41% and a negative net margin of 44.67%. On average, equities analysts anticipate that Zymeworks will post -2.23 EPS for the current year.

In related news, CFO Neil A. Klompas sold 8,308 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $19.23, for a total transaction of $159,762.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.80% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. FMR LLC lifted its position in shares of Zymeworks by 331.4% in the first quarter. FMR LLC now owns 2,401,897 shares of the company’s stock valued at $38,863,000 after acquiring an additional 1,845,142 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Zymeworks by 8.0% in the first quarter. Wedge Capital Management L L P NC now owns 172,063 shares of the company’s stock valued at $2,784,000 after acquiring an additional 12,792 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Zymeworks by 44.7% in the first quarter. Acadian Asset Management LLC now owns 164,135 shares of the company’s stock valued at $2,654,000 after acquiring an additional 50,736 shares in the last quarter. Rubric Capital Management LP purchased a new position in shares of Zymeworks in the first quarter valued at approximately $2,626,000. Finally, Taylor Wealth Management Partners purchased a new position in shares of Zymeworks in the second quarter valued at approximately $1,763,000. Institutional investors own 29.15% of the company’s stock.

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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