Zymeworks (ZYME) Downgraded by Zacks Investment Research

Zymeworks (NYSE:ZYME) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. “

Separately, Cormark reiterated a “buy” rating on shares of Zymeworks in a report on Saturday, September 30th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $14.35.

Shares of Zymeworks (NYSE:ZYME) traded up $0.13 on Friday, reaching $9.52. The company’s stock had a trading volume of 15,081 shares, compared to its average volume of 15,040. The firm has a market cap of $241.59 and a P/E ratio of -4.19. Zymeworks has a 52 week low of $6.25 and a 52 week high of $14.25.

A hedge fund recently bought a new stake in Zymeworks stock. Franklin Resources Inc. purchased a new stake in Zymeworks Inc (NYSE:ZYME) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 823,700 shares of the company’s stock, valued at approximately $6,878,000. Franklin Resources Inc. owned about 3.30% of Zymeworks as of its most recent filing with the SEC. 7.20% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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