Zymeworks (NYSE:ZYME – Free Report) had its price target decreased by Citigroup from $17.00 to $16.00 in a research note issued to investors on Friday, Benzinga reports. Citigroup currently has a buy rating on the stock.
Separately, Wells Fargo & Company lowered their price target on shares of Zymeworks from $14.00 to $12.00 and set an overweight rating on the stock in a research report on Friday.
Check Out Our Latest Stock Analysis on Zymeworks
Zymeworks Stock Performance
Zymeworks (NYSE:ZYME – Get Free Report) last posted its earnings results on Wednesday, March 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.19. The company had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $18.32 million. Zymeworks had a negative net margin of 249.63% and a negative return on equity of 28.37%. As a group, analysts predict that Zymeworks will post -1.04 EPS for the current fiscal year.
Hedge Funds Weigh In On Zymeworks
Hedge funds have recently bought and sold shares of the company. Gladius Capital Management LP increased its holdings in Zymeworks by 36.5% in the 3rd quarter. Gladius Capital Management LP now owns 3,940 shares of the company’s stock valued at $25,000 after buying an additional 1,053 shares during the period. AlphaMark Advisors LLC bought a new stake in shares of Zymeworks during the 1st quarter valued at approximately $32,000. New York State Teachers Retirement System bought a new stake in shares of Zymeworks during the 4th quarter valued at approximately $50,000. Arizona State Retirement System bought a new stake in shares of Zymeworks during the 3rd quarter valued at approximately $64,000. Finally, AJOVista LLC bought a new stake in shares of Zymeworks during the 4th quarter valued at approximately $66,000. 92.89% of the stock is owned by institutional investors.
Zymeworks Company Profile
Zymeworks Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company's lead product candidates include zanidatamab, a human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.
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