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

Zymeworks Inc (NASDAQ:ZYME) has earned an average recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $16.00.

Several equities research analysts have issued reports on the company. Cormark reaffirmed a “buy” rating on shares of Zymeworks in a report on Saturday, September 30th. Zacks Investment Research raised Zymeworks from a “sell” rating to a “hold” rating in a report on Saturday, September 9th. Scotiabank downgraded Zymeworks from an “overweight” rating to an “underweight” rating in a report on Thursday, September 7th. Finally, Barclays PLC reaffirmed an “underweight” rating and set a $8.00 price target on shares of Zymeworks in a report on Thursday, September 7th.

Zymeworks (NASDAQ:ZYME) traded up 4.1491% during trading on Monday, reaching $9.0818. 18,574 shares of the company traded hands. The company’s 50-day moving average is $7.92 and its 200 day moving average is $9.06. The company’s market cap is $230.12 million. Zymeworks has a 12 month low of $6.25 and a 12 month high of $14.25.

Several institutional investors and hedge funds have recently bought and sold shares of the company. OxFORD Asset Management LLP acquired a new stake in shares of Zymeworks during the second quarter worth $154,000. Franklin Resources Inc. acquired a new stake in shares of Zymeworks during the second quarter worth $6,878,000. Sentry Investments Corp. acquired a new stake in shares of Zymeworks during the second quarter worth $206,000. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Zymeworks during the second quarter worth $484,000.

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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.

Analyst Recommendations for Zymeworks (NASDAQ:ZYME)

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