Zymeworks (NASDAQ:ZYME) Stock Price Down 6.8% – What’s Next?
by Danessa Lincoln · The Markets DailyZymeworks Inc. (NASDAQ:ZYME – Get Free Report)’s share price fell 6.8% on Monday . The stock traded as low as $24.59 and last traded at $24.82. 622,776 shares traded hands during trading, an increase of 11% from the average session volume of 560,755 shares. The stock had previously closed at $26.62.
Analysts Set New Price Targets
Several research firms recently commented on ZYME. HC Wainwright raised Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Wall Street Zen downgraded Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Citizens Jmp upgraded Zymeworks to a “strong-buy” rating in a report on Wednesday, December 3rd. B. Riley raised shares of Zymeworks to a “strong-buy” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company raised shares of Zymeworks from an “equal weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a report on Friday, December 12th. Four analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Zymeworks currently has a consensus rating of “Buy” and a consensus target price of $33.00.
View Our Latest Research Report on Zymeworks
Zymeworks Trading Down 4.3%
The firm has a market capitalization of $1.91 billion, a P/E ratio of -30.33 and a beta of 1.30. The business has a 50 day simple moving average of $23.73.
Zymeworks (NASDAQ:ZYME – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. The business had revenue of $27.61 million during the quarter, compared to analysts’ expectations of $28.27 million. Zymeworks had a negative return on equity of 19.25% and a negative net margin of 47.16%.
About Zymeworks
Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.
At the core of Zymeworks’ innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.