Zymeworks (NASDAQ:ZYME) Rating Lowered to "Hold" at Zacks Research
Zacks Research downgraded Zymeworks (NASDAQ:ZYME) from "strong-buy" to "hold." Other brokerages have varied ratings, with some upgrading to "strong-buy" and others downgrading to "hold" or "sell." Zymeworks has a market cap of $2 billion and reported better-than-expected earnings. Analysts have mixed views, with a current average rating of "Moderate Buy."
Zymeworks (NASDAQ:ZYME - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.
A number of other brokerages also recently issued reports on ZYME. Wall Street Zen downgraded shares of Zymeworks from a "buy" rating to a "hold" rating in a research report on Saturday, November 8th. B. Riley upgraded Zymeworks to a "strong-buy" rating in a report on Thursday, October 9th. HC Wainwright upgraded shares of Zymeworks from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 14th. Wells Fargo & Company raised Zymeworks to a "hold" rating in a research report on Friday, October 24th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Zymeworks in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy".
View Our Latest Stock Report on Zymeworks
Zymeworks Price Performance
Shares of NASDAQ ZYME opened at $26.71 on Wednesday. Zymeworks has a 12-month low of $9.03 and a 12-month high of $28.49. The firm's fifty day moving average is $19.23. The company has a market cap of $2.00 billion, a PE ratio of -27.54 and a beta of 1.48.
Zymeworks (NASDAQ:ZYME - Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.30) by $0.04. Zymeworks had a negative return on equity of 21.59% and a negative net margin of 59.96%.The firm had revenue of $27.61 million during the quarter, compared to analysts' expectations of $28.27 million.
About Zymeworks
(Get Free Report)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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, and breast cancer; and ZW49, a biparatopic anti- human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.
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