Zymeworks (NYSE:ZYME) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Zymeworks (NYSE:ZYME) announced its quarterly earnings data on Thursday. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.01, Zacks reports. Zymeworks had a negative net margin of 249.63% and a negative return on equity of 28.37%. The firm had revenue of $19.24 million for the quarter, compared to the consensus estimate of $23.16 million. During the same period in the previous year, the firm posted ($0.76) earnings per share.

Zymeworks Trading Up 0.9 %

NYSE ZYME traded up $0.09 during trading on Friday, hitting $10.20. 1,623,207 shares of the company traded hands, compared to its average volume of 612,887. Zymeworks has a 12 month low of $6.01 and a 12 month high of $13.14. The business has a fifty day simple moving average of $9.18 and a 200 day simple moving average of $9.89. The company has a market capitalization of $721.24 million, a P/E ratio of -5.46 and a beta of 1.15.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZYME. Stifel Nicolaus boosted their price target on shares of Zymeworks from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday. HC Wainwright restated a “neutral” rating and issued a $10.00 target price on shares of Zymeworks in a research note on Thursday, June 6th. Wells Fargo & Company cut their price target on Zymeworks from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, Citigroup lowered their price target on Zymeworks from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, May 3rd.

About Zymeworks

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.