Zymeworks Inc. (ZYME) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Zymeworks Inc. (NYSE:ZYME) from a hold rating to a buy rating in a research report released on Tuesday morning. They currently have $7.75 target price on the stock.
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. “
Several other research firms also recently commented on ZYME. Barclays PLC reiterated an underweight rating and issued a $8.00 price objective on shares of Zymeworks in a report on Thursday, September 7th. Scotiabank downgraded Zymeworks from an overweight rating to an underweight rating in a report on Thursday, September 7th. Finally, Cormark reiterated a buy rating on shares of Zymeworks in a report on Saturday, September 30th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $14.35.
Zymeworks (NYSE:ZYME) opened at $7.60 on Tuesday. Zymeworks has a twelve month low of $6.25 and a twelve month high of $14.25.
COPYRIGHT VIOLATION NOTICE: “Zymeworks Inc. (ZYME) Lifted to “Buy” at Zacks Investment Research” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of U.S. and international copyright law. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/11/18/zymeworks-inc-zyme-lifted-to-buy-at-zacks-investment-research.html.
A number of large investors have recently made changes to their positions in ZYME. Barometer Capital Management Inc. purchased a new position in Zymeworks during the 2nd quarter valued at about $484,000. Sentry Investments Corp. purchased a new position in Zymeworks during the 2nd quarter valued at about $206,000. Franklin Resources Inc. purchased a new position in Zymeworks during the 2nd quarter valued at about $6,878,000. Finally, OxFORD Asset Management LLP purchased a new position in Zymeworks during the 2nd quarter valued at about $154,000. Institutional investors own 8.17% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Zymeworks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zymeworks Inc. and related stocks with our FREE daily email newsletter.