Brokers Offer Predictions for Zymeworks FY2024 Earnings

Zymeworks Inc. (NYSE:ZYME) – Research analysts at Bloom Burton issued their FY2024 earnings estimates for shares of Zymeworks in a report released on Thursday, November 21st. Bloom Burton analyst D. Martin anticipates that the company will post earnings of ($1.44) per share for the year. The consensus estimate for Zymeworks’ current full-year earnings is ($1.08) per share. Bloom Burton also issued estimates for Zymeworks’ FY2025 earnings at ($1.76) EPS and FY2026 earnings at ($1.84) EPS.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus boosted their price objective on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. Wells Fargo & Company downgraded Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 target price on the stock. in a research report on Friday, November 1st. HC Wainwright reiterated a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a research report on Friday. Finally, Citigroup upped their price objective on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Zymeworks Price Performance

Shares of NYSE:ZYME opened at $14.20 on Monday. The company has a market capitalization of $978.10 million, a PE ratio of -9.47 and a beta of 1.16. Zymeworks has a 1-year low of $7.97 and a 1-year high of $17.70. The business has a fifty day moving average price of $13.74 and a 200-day moving average price of $11.20.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. During the same period last year, the business earned ($0.41) EPS. Zymeworks’s quarterly revenue was down 3.1% compared to the same quarter last year.

Institutional Investors Weigh In On Zymeworks

A number of hedge funds have recently bought and sold shares of ZYME. Charles Schwab Investment Management Inc. increased its position in shares of Zymeworks by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after purchasing an additional 650 shares during the last quarter. California State Teachers Retirement System raised its stake in Zymeworks by 2.9% in the first quarter. California State Teachers Retirement System now owns 43,420 shares of the company’s stock worth $457,000 after buying an additional 1,215 shares in the last quarter. Arizona State Retirement System raised its position in shares of Zymeworks by 11.1% in the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock worth $109,000 after acquiring an additional 1,285 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Zymeworks by 11.1% during the first quarter. ProShare Advisors LLC now owns 14,952 shares of the company’s stock valued at $157,000 after buying an additional 1,499 shares during the last quarter. Finally, FMR LLC lifted its position in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after acquiring an additional 1,525 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Company Profile

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 human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.