Wells Fargo Thinks Zymeworks’ Stock is Going to Recover

Wells Fargo analyst Nick Abbott maintained a Buy rating on Zymeworks (ZYMEResearch Report) on April 28 and set a price target of $45.00. The company’s shares closed last Wednesday at $7.03, close to its 52-week low of $4.56.

According to, Abbott has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -43.1% and a 0.0% success rate. Abbott covers the Healthcare sector, focusing on stocks such as TRACON Pharmaceuticals, Arcturus Therapeutics, and Alaunos Therapeutics.

Zymeworks has an analyst consensus of Strong Buy, with a price target consensus of $23.20, representing a 224.5% upside. In a report issued on April 18, Evercore ISI also maintained a Buy rating on the stock with a $15.00 price target.

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Zymeworks’ market cap is currently $405.9M and has a P/E ratio of -1.68.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ZYME in relation to earlier this year.

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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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