Zymeworks (NYSE:ZYME)‘s stock had its “overweight” rating restated by investment analysts at Wells Fargo & Co in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They currently have a $58.00 price target on the stock, up from their previous price target of $48.00. Wells Fargo & Co‘s price objective indicates a potential upside of 31.91% from the company’s current price.

Several other research firms have also commented on ZYME. Raymond James set a $60.00 price objective on shares of Zymeworks and gave the company a “strong-buy” rating in a research note on Tuesday. Guggenheim initiated coverage on shares of Zymeworks in a research note on Wednesday, November 27th. They issued a “buy” rating and a $48.00 price objective for the company. Zacks Investment Research lowered shares of Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. ValuEngine lowered shares of Zymeworks from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, HC Wainwright initiated coverage on shares of Zymeworks in a research note on Monday, November 25th. They issued a “buy” rating and a $65.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $45.33.

Shares of ZYME stock opened at $43.97 on Wednesday. The company has a 50-day moving average of $44.04 and a two-hundred day moving average of $31.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.81 and a quick ratio of 6.81. Zymeworks has a 1-year low of $14.05 and a 1-year high of $47.99. The firm has a market cap of $1.77 billion, a PE ratio of -34.90 and a beta of 1.52.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.70) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.06. Zymeworks had a negative net margin of 112.95% and a negative return on equity of 25.72%. The business had revenue of $7.86 million during the quarter, compared to analyst estimates of $7.77 million. Sell-side analysts anticipate that Zymeworks will post -2.79 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. AE Wealth Management LLC purchased a new position in Zymeworks in the fourth quarter worth approximately $243,000. HWG Holdings LP lifted its stake in Zymeworks by 141.9% in the fourth quarter. HWG Holdings LP now owns 4,190 shares of the company’s stock worth $190,000 after acquiring an additional 2,458 shares during the last quarter. Evoke Wealth LLC purchased a new position in Zymeworks in the third quarter worth approximately $841,000. Millennium Management LLC lifted its stake in Zymeworks by 82,322.8% in the third quarter. Millennium Management LLC now owns 1,379,757 shares of the company’s stock worth $34,217,000 after acquiring an additional 1,378,083 shares during the last quarter. Finally, Great Point Partners LLC lifted its stake in Zymeworks by 131.8% in the third quarter. Great Point Partners LLC now owns 2,466,744 shares of the company’s stock worth $61,175,000 after acquiring an additional 1,402,703 shares during the last quarter. Institutional investors own 54.28% of the company’s stock.

About Zymeworks

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.

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Analyst Recommendations for Zymeworks (NYSE:ZYME)

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