Ladenburg Thalmann initiated coverage on shares of Zymeworks (NYSE:ZYME) in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $25.00 target price on the stock.
Other analysts have also issued reports about the stock. ValuEngine raised shares of Zymeworks from a sell rating to a hold rating in a research note on Wednesday, May 2nd. Barclays raised shares of Zymeworks from an underweight rating to an equal weight rating and boosted their target price for the company from $8.00 to $15.00 in a research note on Friday, May 11th. Finally, Raymond James started coverage on shares of Zymeworks in a research note on Monday, March 19th. They set an outperform rating and a $18.00 target price for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Zymeworks currently has a consensus rating of Buy and an average target price of $17.82.
Shares of ZYME opened at $17.34 on Monday. The firm has a market cap of $421.95 million and a PE ratio of -30.42. Zymeworks has a 12-month low of $16.84 and a 12-month high of $17.58.
A number of large investors have recently added to or reduced their stakes in ZYME. Stanley Laman Group Ltd. purchased a new stake in Zymeworks in the first quarter worth about $439,000. PenderFund Capital Management Ltd. purchased a new stake in Zymeworks in the first quarter worth about $5,360,000. Finally, Perceptive Advisors LLC lifted its stake in Zymeworks by 6.4% in the fourth quarter. Perceptive Advisors LLC now owns 777,497 shares of the company’s stock worth $5,549,000 after acquiring an additional 46,729 shares during the period. 8.69% of the stock is owned by institutional investors.
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.
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