Equities research analysts expect Zymeworks Inc. (NYSE:ZYME – Get Rating) to report ($0.93) earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Zymeworks’ earnings, with the highest EPS estimate coming in at ($0.79) and the lowest estimate coming in at ($1.12). Zymeworks reported earnings per share of ($1.31) during the same quarter last year, which would indicate a positive year-over-year growth rate of 29%. The firm is scheduled to issue its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Zymeworks will report full-year earnings of ($3.86) per share for the current fiscal year, with EPS estimates ranging from ($4.65) to ($3.08). For the next financial year, analysts forecast that the business will report earnings of ($0.85) per share, with EPS estimates ranging from ($3.08) to $0.46. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Zymeworks.
Several brokerages recently commented on ZYME. Citigroup cut their target price on Zymeworks from $53.00 to $30.00 in a research report on Monday, February 28th. Guggenheim raised Zymeworks from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Thursday, May 5th. 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. Finally, Evercore ISI started 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Zymeworks currently has an average rating of “Buy” and an average price target of $25.89.
Institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake in shares of Zymeworks by 331.4% in the first quarter. FMR LLC now owns 2,401,897 shares of the company’s stock worth $38,863,000 after purchasing an additional 1,845,142 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Zymeworks by 60.4% in the second quarter. Bank of America Corp DE now owns 9,445 shares of the company’s stock worth $328,000 after purchasing an additional 3,557 shares during the last quarter. Invesco Ltd. grew its stake in shares of Zymeworks by 43.8% in the second quarter. Invesco Ltd. now owns 9,646 shares of the company’s stock worth $335,000 after purchasing an additional 2,937 shares during the last quarter. Morgan Stanley grew its stake in shares of Zymeworks by 32.9% in the second quarter. Morgan Stanley now owns 2,316,647 shares of the company’s stock worth $80,363,000 after purchasing an additional 574,073 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Zymeworks by 411.6% in the third quarter. Goldman Sachs Group Inc. now owns 278,208 shares of the company’s stock worth $8,079,000 after purchasing an additional 223,823 shares during the last quarter. 68.38% of the stock is owned by hedge funds and other institutional investors.
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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