Analysts Expect Zymeworks Inc. (NYSE:ZYME) Will Post Earnings of -$0.86 Per Share

Equities research analysts forecast that Zymeworks Inc. (NYSE:ZYMEGet Rating) will announce earnings per share of ($0.86) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Zymeworks’ earnings. The highest EPS estimate is ($0.79) and the lowest is ($1.00). Zymeworks posted earnings of ($1.31) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 34.4%. The business is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Zymeworks will report full year earnings of ($3.76) per share for the current financial year, with EPS estimates ranging from ($4.65) to ($3.08). For the next year, analysts expect that the business will post earnings of ($0.85) per share, with EPS estimates ranging from ($3.08) to $0.46. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Zymeworks.

Zymeworks (NYSE:ZYMEGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.11. Zymeworks had a negative return on equity of 84.77% and a negative net margin of 858.18%. The company had revenue of $19.87 million for the quarter, compared to the consensus estimate of $12.69 million.

ZYME has been the topic of a number of research reports. Zacks Investment Research downgraded Zymeworks from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Wells Fargo & Company dropped their price target on Zymeworks from $56.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 9th. Evercore ISI assumed coverage on Zymeworks in a research note on Tuesday, March 15th. They set an “outperform” rating and a $15.00 price target on the stock. Citigroup decreased their price objective on Zymeworks from $53.00 to $30.00 in a report on Monday, February 28th. Finally, Guggenheim raised Zymeworks from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Thursday, May 5th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $29.00.

Several hedge funds have recently added to or reduced their stakes in ZYME. FMR LLC grew its holdings in shares of Zymeworks by 331.4% in the first quarter. FMR LLC now owns 2,401,897 shares of the company’s stock valued at $38,863,000 after acquiring an additional 1,845,142 shares in the last quarter. Bank of America Corp DE lifted its stake in Zymeworks by 60.4% in the second quarter. Bank of America Corp DE now owns 9,445 shares of the company’s stock valued at $328,000 after purchasing an additional 3,557 shares during the last quarter. Invesco Ltd. lifted its stake in Zymeworks by 43.8% in the second quarter. Invesco Ltd. now owns 9,646 shares of the company’s stock valued at $335,000 after purchasing an additional 2,937 shares during the last quarter. Morgan Stanley lifted its stake in Zymeworks by 32.9% in the second quarter. Morgan Stanley now owns 2,316,647 shares of the company’s stock valued at $80,363,000 after purchasing an additional 574,073 shares during the last quarter. Finally, Truist Financial Corp purchased a new position in Zymeworks in the third quarter valued at approximately $755,000. 68.38% of the stock is owned by institutional investors.

ZYME stock traded up $0.34 during trading on Friday, reaching $5.55. 1,147,289 shares of the stock were exchanged, compared to its average volume of 3,387,387. The firm’s 50 day moving average is $6.30 and its 200 day moving average is $11.68. Zymeworks has a twelve month low of $4.56 and a twelve month high of $39.41. The firm has a market cap of $320.62 million, a P/E ratio of -1.18 and a beta of 1.06.

About Zymeworks (Get Rating)

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, breast, and colorectal 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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