Wells Fargo & Company Rates Zymeworks as “Overweight”

ZYME Stock

Zymeworks, a biotech company listed on the New York Stock Exchange (ZYME:NYE), has received an “overweight” rating from Wells Fargo & Company, according to a research note released on Tuesday. The rating comes with a $12.00 ZYME stock price target, representing a potential upside of 39.37% from the previous day’s closing price.

ZYME Stock-Analyst Ratings:

Zymeworks has received several other ratings in recent months. On March 7th, the company reported earnings of $4.65 per share for the quarter, beating analysts’ consensus estimates by $0.03.

The company had revenue of $402.49 million for the quarter, compared to analyst estimates of $371.36 million. Despite this, the company’s average rating from Stock Target Advisor is “Buy” and its average price target is $11.39.

ZYME:CA Ratings by Stock Target Advisor

ZYME Stock Analysis:

The company’s stock traded up $0.09 on Tuesday, hitting $8.61, with 63,089 shares traded. Zymeworks has a 52-week low of $4.11 and a 52-week high of $10.80, with a market capitalization of $551.38 million, a price-to-earnings ratio of 4.86, and a beta of 0.91. The company has a 50-day simple moving average of $8.89 and a 200-day simple moving average of $7.50.

Insider Transactions:

Insider buying has also been reported, with major shareholder Ecor1 Capital, Llc acquiring 342,100 shares of the ZYME stock in a transaction on January 13th, valued at $3,356,001.00.

In the last quarter, insiders purchased 1,846,200 shares of ZYME stock valued at $16,073,510. Institutional investors have also shown interest in the company, with 88.28% of the stock currently owned by hedge funds and other institutional investors.

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 for the treatment of biliary tract, gastroesophageal adenocarcinomas, breast, colorectal, and endometrial cancers; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors. Zymeworks Inc. was incorporated in 2003 and is headquartered in Vancouver, Canada.

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