Zacks Investment Research Upgrades Zymeworks Inc (ZYME) to Hold
Zymeworks Inc (NASDAQ:ZYME) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
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 research analysts have also recently weighed in on the stock. Cormark reaffirmed a “buy” rating on shares of Zymeworks in a research report on Saturday, September 30th. Scotiabank cut shares of Zymeworks from an “overweight” rating to an “underweight” rating in a research report on Thursday, September 7th. Finally, Barclays PLC reaffirmed an “underweight” rating and set a $8.00 price target on shares of Zymeworks in a research report on Thursday, September 7th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Zymeworks has a consensus rating of “Hold” and a consensus price target of $16.00.
Shares of Zymeworks (NASDAQ:ZYME) opened at 8.9022 on Thursday. Zymeworks has a 52 week low of $6.25 and a 52 week high of $14.25. The stock’s market cap is $225.57 million. The company’s 50-day moving average is $8.27 and its 200 day moving average is $9.05.
A number of hedge funds have recently made changes to their positions in ZYME. OxFORD Asset Management LLP acquired a new position in shares of Zymeworks during the second quarter worth $154,000. Sentry Investments Corp. acquired a new position in shares of Zymeworks during the second quarter worth $206,000. Barometer Capital Management Inc. acquired a new position in shares of Zymeworks during the second quarter worth $484,000. Finally, Franklin Resources Inc. acquired a new position in shares of Zymeworks during the second quarter worth $6,878,000.
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.
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