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

Equities research analysts expect that Zymeworks Inc. (NYSE:ZYMEGet Rating) will report earnings of ($0.86) per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Zymeworks’ earnings, with estimates ranging from ($1.00) to ($0.79). Zymeworks posted earnings of ($1.31) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 34.4%. The company is scheduled to announce its next quarterly earnings results 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 fiscal year, analysts anticipate that the business will post earnings of ($0.85) per share, with EPS estimates ranging from ($3.08) to $0.46. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Zymeworks.

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

ZYME has been the topic of a number of analyst reports. Citigroup cut their price objective on shares of Zymeworks from $53.00 to $30.00 in a report on Monday, February 28th. Wells Fargo & Company lowered their target price on Zymeworks from $56.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 9th. Raymond James lowered their target price on Zymeworks from $50.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 1st. Guggenheim upgraded Zymeworks from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Thursday, May 5th. Finally, Zacks Investment Research cut Zymeworks from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $29.00.

ZYME traded up $0.34 during mid-day 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 stock has a market capitalization of $320.62 million, a PE ratio of -1.18 and a beta of 1.06. The company has a 50 day moving average price of $6.30 and a two-hundred day moving average price of $11.68. Zymeworks has a 1 year low of $4.56 and a 1 year high of $39.41.

Several institutional investors and hedge funds have recently made changes to their positions in ZYME. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Zymeworks during the first quarter valued at about $31,000. Compagnie Lombard Odier SCmA grew its holdings in shares of Zymeworks by 233.3% during the first quarter. Compagnie Lombard Odier SCmA now owns 10,000 shares of the company’s stock worth $66,000 after purchasing an additional 7,000 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Zymeworks in the first quarter worth approximately $66,000. Teacher Retirement System of Texas purchased a new stake in Zymeworks in the first quarter worth approximately $67,000. Finally, Prospera Financial Services Inc purchased a new stake in Zymeworks in the first quarter worth approximately $72,000. Hedge funds and other institutional investors own 68.38% of the company’s stock.

Zymeworks Company Profile (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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