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H.C. Wainwright Thinks Zymeworks’ Stock is Going to Recover

H.C. Wainwright analyst Robert Burns reiterated a Buy rating on Zymeworks (ZYMEResearch Report) today and set a price target of $40.00. The company’s shares closed last Friday at $6.10, close to its 52-week low of $4.56.

According to TipRanks.com, Burns is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -26.7% and a 20.1% success rate. Burns covers the Healthcare sector, focusing on stocks such as Forma Therapeutics Holdings, Turning Point Therapeutics, and Black Diamond Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Zymeworks with a $22.56 average price target.

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Based on Zymeworks’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.92 million and GAAP net loss of $72.63 million. In comparison, last year the company earned revenue of $2.64 million and had a GAAP net loss of $72.56 million.

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Zymeworks, Inc. is a clinical-stage biopharmaceutical company, which engages in the discovery, development and commercialization of biotherapeutics. Its product, ZW25 and ZW49 are a bispecific antibody that cans two non-overlapping epitopes. The company was founded by Anthony Fejes, J. Haig deB Farris, Nick Bedford, Ali Tehrani, and Andrew S. Wright on September 8, 2003 and is headquartered in Vancouver, Canada.

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