Scotiabank downgraded shares of Zymeworks Inc (NASDAQ:ZYME) from an overweight rating to an underweight rating in a research report report published on Thursday morning.

A number of other analysts have also recently weighed in on ZYME. Barclays PLC restated an underweight rating and issued a $8.00 price target on shares of Zymeworks in a report on Thursday. Zacks Investment Research cut shares of Zymeworks from a hold rating to a sell rating in a report on Saturday, August 12th. Canaccord Genuity assumed coverage on shares of Zymeworks in a report on Tuesday, May 23rd. They issued a buy rating and a $18.00 price target on the stock. Wells Fargo & Company assumed coverage on shares of Zymeworks in a report on Tuesday, May 23rd. They issued an outperform rating and a $20.00 price target on the stock. Finally, Citigroup Inc. assumed coverage on shares of Zymeworks in a report on Tuesday, May 23rd. They issued a buy rating and a $18.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $16.00.

Shares of Zymeworks (NASDAQ ZYME) traded down 6.6662% on Thursday, hitting $7.1867. 15,187 shares of the stock traded hands. Zymeworks has a 52-week low of $6.25 and a 52-week high of $14.25. The stock’s market cap is $182.10 million. The stock’s 50 day moving average price is $7.46 and its 200 day moving average price is $9.26.

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Several large investors have recently added to or reduced their stakes in ZYME. Barometer Capital Management Inc. bought a new stake in shares of Zymeworks in the 2nd quarter valued at about $484,000. Sentry Investments Corp. bought a new stake in shares of Zymeworks in the 2nd quarter valued at about $206,000. Franklin Resources Inc. bought a new stake in shares of Zymeworks in the 2nd quarter valued at about $6,878,000. Finally, OxFORD Asset Management LLP bought a new stake in shares of Zymeworks in the 2nd quarter valued at about $154,000.

Zymeworks Company Profile

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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