Zymeworks Inc (ZYME) Stock Rating Upgraded by Zacks Investment Research

Zymeworks Inc (NASDAQ:ZYME) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $7.75 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential downside of 11.78% from the company’s previous close.

According to Zacks, “Zymeworks Inc. is a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The companys lead product candidate includes ZW25 and ZW33 which are in clinical trial stage. Zymeworks Inc. is headquartered in Vancouver, Canada. “

A number of other brokerages have also weighed in on ZYME. Scotiabank lowered Zymeworks from an “overweight” rating to an “underweight” rating in a research report on Thursday, September 7th. Barclays PLC restated an “underweight” rating and set a $8.00 price objective on shares of Zymeworks in a research report on Thursday, September 7th. Finally, Cormark restated a “buy” rating on shares of Zymeworks in a research report on Saturday, September 30th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. Zymeworks presently has an average rating of “Hold” and a consensus target price of $14.35.

Shares of Zymeworks (NASDAQ ZYME) traded up $0.21 during trading on Tuesday, hitting $8.79. The stock had a trading volume of 104,918 shares, compared to its average volume of 6,247. Zymeworks has a 52-week low of $6.25 and a 52-week high of $14.25.

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Large investors have recently made changes to their positions in the stock. OxFORD Asset Management LLP bought a new position in shares of Zymeworks in the 2nd quarter valued at about $154,000. Sentry Investments Corp. bought a new position in shares of Zymeworks in the 2nd quarter valued at about $206,000. Barometer Capital Management Inc. bought a new position in shares of Zymeworks in the 2nd quarter valued at about $484,000. Finally, Franklin Resources Inc. bought a new position in shares of Zymeworks in the 2nd quarter valued at about $6,878,000.

About Zymeworks

Zymeworks Inc is a Canada-based clinical-stage biopharmaceutical company. The Company focuses on the discovery, development and commercialization of multifunctional biotherapeutics. The Company’s ZymeCAD platform is for protein modeling and structure-guided protein engineering. The Company’s platforms include Azymetric Platform, AlbuCORE Platform, EFECT Platform and Zymelink Conjugation Platform + Cytotoxins.

Analyst Recommendations for Zymeworks (NASDAQ:ZYME)

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