Zymeworks Inc (ZYME) Receives $16.00 Average Price Target from Brokerages

Zymeworks Inc (NASDAQ:ZYME) has been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $16.00.

Several research firms recently weighed in on ZYME. Zacks Investment Research upgraded shares of Zymeworks from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Scotiabank cut shares of Zymeworks from an “overweight” rating to an “underweight” rating in a research report on Thursday, September 7th. Cormark restated a “buy” rating on shares of Zymeworks in a research report on Saturday, September 30th. Finally, Barclays PLC restated an “underweight” rating and issued a $8.00 price objective on shares of Zymeworks in a research report on Thursday, September 7th.

A number of hedge funds have recently bought and sold shares of the stock. OxFORD Asset Management LLP bought a new position in Zymeworks in the 2nd quarter worth approximately $154,000. Sentry Investments Corp. bought a new position in Zymeworks in the 2nd quarter worth approximately $206,000. Barometer Capital Management Inc. bought a new position in Zymeworks in the 2nd quarter worth approximately $484,000. Finally, Franklin Resources Inc. bought a new position in Zymeworks in the 2nd quarter worth approximately $6,878,000.

Shares of Zymeworks (ZYME) traded up 0.12% during trading on Friday, reaching $8.32. The company had a trading volume of 2,401 shares. The company’s market cap is $210.82 million. The firm has a 50-day moving average of $8.44 and a 200-day moving average of $9.09. Zymeworks has a 12-month low of $6.25 and a 12-month high of $14.25.

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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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