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.

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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.

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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