Zymeworks Inc (ZYME) Rating Increased to Hold at Zacks Investment Research

Zymeworks Inc (NASDAQ:ZYME) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday.

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 analysts have also recently issued reports on ZYME. Barclays PLC initiated coverage on Zymeworks in a research note on Tuesday, May 23rd. They issued an “overweight” rating and a $20.00 price objective on the stock. Canaccord Genuity initiated coverage on Zymeworks in a research note on Tuesday, May 23rd. They issued a “buy” rating and a $18.00 price objective on the stock. Wells Fargo & Company initiated coverage on Zymeworks in a research note on Tuesday, May 23rd. They issued an “outperform” rating and a $20.00 price objective on the stock. Citigroup Inc. initiated coverage on Zymeworks in a research note on Tuesday, May 23rd. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Scotiabank cut Zymeworks from an “overweight” rating to an “underweight” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $16.00.

Zymeworks (NASDAQ ZYME) opened at 8.32 on Friday. The stock has a 50 day moving average price of $7.47 and a 200 day moving average price of $9.25. Zymeworks has a 52-week low of $6.25 and a 52-week high of $14.25. The company’s market capitalization is $210.82 million.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. OxFORD Asset Management LLP acquired a new stake in shares of Zymeworks in the second quarter valued at $154,000. Franklin Resources Inc. acquired a new stake in Zymeworks in the second quarter valued at $6,878,000. Sentry Investments Corp. acquired a new stake in Zymeworks in the second quarter valued at $206,000. Finally, Barometer Capital Management Inc. acquired a new stake in Zymeworks in the second quarter valued at $484,000.

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.

Analyst Recommendations for Zymeworks (NASDAQ:ZYME)

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