Zacks Investment Research downgraded shares of Zymeworks Inc (NASDAQ:ZYME) from a hold rating to a sell rating in a research report report published on Saturday.

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. “

ZYME has been the subject of a number of other research reports. Wells Fargo & Company initiated coverage on shares of Zymeworks in a report on Tuesday, May 23rd. They issued an outperform rating and a $20.00 price target for the company. Canaccord Genuity initiated coverage on shares of Zymeworks in a report on Tuesday, May 23rd. They issued a buy rating and a $18.00 price target for the company. Barclays PLC initiated coverage on shares of Zymeworks in a report on Tuesday, May 23rd. They issued an overweight rating and a $20.00 price target for the company. Finally, Citigroup Inc. initiated coverage on shares of Zymeworks in a report on Tuesday, May 23rd. They issued a buy rating and a $18.00 price target for the company. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $19.00.

Shares of Zymeworks (NASDAQ:ZYME) opened at 7.40 on Friday. Zymeworks has a 52-week low of $6.25 and a 52-week high of $14.25. The firm has a 50-day moving average of $7.40 and a 200-day moving average of $9.58. The company’s market cap is $187.52 million.

Zymeworks (NASDAQ:ZYME) last posted its quarterly earnings results on Monday, May 15th. The company reported ($1.13) earnings per share (EPS) for the quarter. The company had revenue of $0.23 million during the quarter. Zymeworks had a negative return on equity of 798,487.60% and a negative net margin of 6,924.35%. Equities research analysts forecast that Zymeworks will post ($2.83) earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. OxFORD Asset Management LLP acquired a new position in shares of Zymeworks during the second quarter valued at about $154,000. Sentry Investments Corp. acquired a new position in shares of Zymeworks during the second quarter valued at about $206,000. Barometer Capital Management Inc. acquired a new position in shares of Zymeworks during the second quarter valued at about $484,000. Finally, Franklin Resources Inc. acquired a new position in shares of Zymeworks during the second 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.

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