Zymeworks Inc (NYSE:ZYME)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $29.79 and last traded at $29.66, with a volume of 9109 shares traded. The stock had previously closed at $28.70.
ZYME has been the topic of several research reports. Zacks Investment Research raised shares of Zymeworks from a “sell” rating to a “hold” rating in a research note on Saturday, August 31st. Citigroup lifted their target price on shares of Zymeworks from $22.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Raymond James set a $40.00 target price on shares of Zymeworks and gave the stock a “strong-buy” rating in a research note on Thursday. Barclays lifted their target price 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. Finally, ValuEngine downgraded shares of Zymeworks from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.25.
The company has a debt-to-equity ratio of 0.02, a current ratio of 9.07 and a quick ratio of 9.07. The business’s 50 day simple moving average is $26.61 and its 200 day simple moving average is $22.06. The company has a market capitalization of $1.14 billion, a PE ratio of -23.83 and a beta of 1.34.
Zymeworks (NYSE:ZYME) last issued its earnings results on Friday, August 2nd. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.06). Zymeworks had a negative return on equity of 24.44% and a negative net margin of 102.78%. The firm had revenue of $7.88 million for the quarter, compared to analysts’ expectations of $7.25 million. As a group, analysts anticipate that Zymeworks Inc will post -2.75 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Zymeworks by 321.2% during the second quarter. JPMorgan Chase & Co. now owns 79,296 shares of the company’s stock valued at $1,751,000 after acquiring an additional 60,472 shares during the last quarter. Farallon Capital Management LLC grew its holdings in shares of Zymeworks by 11.5% in the second quarter. Farallon Capital Management LLC now owns 1,756,470 shares of the company’s stock valued at $38,642,000 after purchasing an additional 181,470 shares in the last quarter. Sofinnova Investments Inc. acquired a new position in shares of Zymeworks in the second quarter valued at approximately $4,137,000. Taylor Wealth Management Partners acquired a new position in shares of Zymeworks in the second quarter valued at approximately $1,763,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Zymeworks by 42.2% in the second quarter. Acadian Asset Management LLC now owns 233,472 shares of the company’s stock valued at $5,137,000 after purchasing an additional 69,337 shares in the last quarter. Institutional investors and hedge funds own 49.86% of the company’s stock.
Zymeworks Company Profile (NYSE:ZYME)
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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