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

Shares of Zymeworks Inc (NYSE:ZYME) have earned a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $16.40.

A number of equities analysts recently commented on ZYME shares. Zacks Investment Research lowered Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Raymond James Financial started coverage on Zymeworks in a research note on Monday, March 19th. They set an “outperform” rating and a $18.00 price target for the company.

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A hedge fund recently raised its stake in Zymeworks stock. Perceptive Advisors LLC increased 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 fund owned 777,497 shares of the company’s stock after acquiring an additional 46,729 shares during the period. Perceptive Advisors LLC owned about 3.06% of Zymeworks worth $5,549,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 7.27% of the company’s stock.

Shares of NYSE:ZYME traded up $0.05 during trading on Monday, hitting $12.07. 23,727 shares of the company’s stock were exchanged, compared to its average volume of 24,241. Zymeworks has a 52-week low of $6.25 and a 52-week high of $14.25. The stock has a market capitalization of $306.05 and a P/E ratio of -21.18.

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About Zymeworks

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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