Zymeworks (ZYME) Downgraded to Hold at ValuEngine

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ValuEngine cut shares of Zymeworks (NYSE:ZYME) from a buy rating to a hold rating in a report released on Saturday morning, ValuEngine reports.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Zymeworks from a buy rating to a hold rating in a research report on Saturday, March 30th. Raymond James boosted their target price on shares of Zymeworks from $29.00 to $36.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Canaccord Genuity set a $23.00 target price on shares of Zymeworks and gave the stock a buy rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Co boosted their target price on shares of Zymeworks from $37.00 to $42.00 and gave the stock an outperform rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $28.40.

Shares of Zymeworks stock traded up $0.02 on Friday, reaching $18.02. The stock had a trading volume of 185,434 shares, compared to its average volume of 211,059. 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 1 year low of $10.72 and a 1 year high of $29.00. The company has a market cap of $577.76 million, a P/E ratio of -14.30 and a beta of 1.58.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.09. The firm had revenue of $11.93 million for the quarter. Zymeworks had a negative net margin of 44.67% and a negative return on equity of 16.41%. As a group, equities research analysts forecast that Zymeworks will post -2.38 EPS for the current fiscal year.

In other news, CEO Ali Tehrani sold 3,000 shares of the company’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of $16.24, for a total value of $48,720.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Neil A. Klompas sold 8,308 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $19.23, for a total transaction of $159,762.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,108 shares of company stock worth $223,843. 4.80% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its holdings in shares of Zymeworks by 17.9% in the 4th quarter. Bank of Montreal Can now owns 4,380 shares of the company’s stock valued at $64,000 after acquiring an additional 665 shares during the last quarter. K.J. Harrison & Partners Inc boosted its holdings in shares of Zymeworks by 25.0% in the 4th quarter. K.J. Harrison & Partners Inc now owns 15,000 shares of the company’s stock valued at $219,000 after acquiring an additional 3,000 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Zymeworks in the 4th quarter valued at $225,000. JPMorgan Chase & Co. purchased a new stake in shares of Zymeworks in the 1st quarter valued at $305,000. Finally, Granite Investment Partners LLC boosted its holdings in shares of Zymeworks by 87.8% in the 1st quarter. Granite Investment Partners LLC now owns 27,277 shares of the company’s stock valued at $441,000 after acquiring an additional 12,750 shares during the last quarter. 28.73% of the stock is currently owned by institutional investors and hedge funds.

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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