Citigroup Trims Zymeworks (ZYME) Target Price to $19.00

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Zymeworks (NYSE:ZYME) had its price target lowered by Citigroup from $20.00 to $19.00 in a research report sent to investors on Thursday. Citigroup currently has a neutral rating on the stock.

A number of other research analysts have also recently issued reports on ZYME. Raymond James initiated coverage on shares of Zymeworks in a report on Monday, March 19th. They issued an outperform rating and a $18.00 target price for the company. ValuEngine upgraded shares of Zymeworks from a sell rating to a hold rating in a research report on Wednesday, May 2nd. Barclays upgraded shares of Zymeworks from an underweight rating to an equal weight rating and increased their price target for the company from $8.00 to $15.00 in a research report on Friday, May 11th. LADENBURG THALM/SH SH began coverage on shares of Zymeworks in a research report on Monday, May 14th. They issued a buy rating and a $25.00 price target on the stock. Finally, Canaccord Genuity increased their price target on shares of Zymeworks from $18.00 to $21.00 and gave the company a buy rating in a research report on Wednesday, May 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Zymeworks currently has a consensus rating of Buy and an average price target of $21.68.

Shares of Zymeworks stock opened at $16.05 on Thursday. Zymeworks has a 12-month low of $6.25 and a 12-month high of $29.00. The stock has a market capitalization of $512.58 million, a price-to-earnings ratio of -28.16 and a beta of 5.53.

Zymeworks (NYSE:ZYME) last issued its earnings results on Tuesday, May 1st. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.68) by ($0.15). Zymeworks had a negative net margin of 30.41% and a negative return on equity of 16.07%. The company had revenue of $0.04 million during the quarter. equities research analysts anticipate that Zymeworks will post -2.46 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. PenderFund Capital Management Ltd. acquired a new stake in Zymeworks during the first quarter worth approximately $5,360,000. Stanley Laman Group Ltd. acquired a new stake in Zymeworks during the first quarter worth approximately $439,000. Finally, Perceptive Advisors LLC boosted its holdings in shares of Zymeworks by 6.4% in the 4th quarter. Perceptive Advisors LLC now owns 777,497 shares of the company’s stock valued at $5,549,000 after purchasing an additional 46,729 shares during the last quarter. Institutional investors and hedge funds own 6.47% 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 candidate is ZW25, a novel bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer.

Analyst Recommendations for Zymeworks (NYSE:ZYME)

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