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

Zymeworks (NYSE:ZYME) posted its earnings results on Thursday. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.01, Briefing.com reports. The firm had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. Zymeworks had a negative return on equity of 22.09% and a negative net margin of 182.75%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.41) earnings per share.

Zymeworks Price Performance

Shares of Zymeworks stock opened at $13.28 on Friday. The stock has a market capitalization of $943.54 million, a price-to-earnings ratio of -8.85 and a beta of 1.16. The firm’s fifty day simple moving average is $12.59 and its 200-day simple moving average is $10.46. Zymeworks has a 12 month low of $6.83 and a 12 month high of $14.05.

Analyst Ratings Changes

A number of analysts have weighed in on ZYME shares. Stifel Nicolaus raised 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. HC Wainwright reissued a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a research report on Friday. Finally, Wells Fargo & Company lowered Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price objective on the stock. in a report on Friday.

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.