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.
WARNING: This news story was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://www.chaffeybreeze.com/2017/11/14/zymeworks-inc-zyme-stock-rating-upgraded-by-zacks-investment-research.html.
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.
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.
Receive News & Ratings for Zymeworks Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zymeworks Inc and related companies with MarketBeat.com's FREE daily email newsletter.