HC Wainwright Research Analysts Lift Earnings Estimates for Zymeworks Inc. (NYSE:ZYME)

Zymeworks Inc. (NYSE:ZYMEGet Rating) – Equities researchers at HC Wainwright raised their FY2022 earnings estimates for shares of Zymeworks in a research report issued on Monday, November 21st. HC Wainwright analyst R. Burns now expects that the company will post earnings per share of $2.24 for the year, up from their previous estimate of ($4.03). HC Wainwright currently has a “Neutral” rating and a $10.00 target price on the stock. The consensus estimate for Zymeworks’ current full-year earnings is ($1.22) per share. HC Wainwright also issued estimates for Zymeworks’ Q4 2022 earnings at $4.95 EPS and FY2023 earnings at ($2.67) EPS.

ZYME has been the subject of several other reports. Stifel Nicolaus decreased their price target on shares of Zymeworks from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, October 24th. Wells Fargo & Company decreased their price target on shares of Zymeworks from $45.00 to $9.00 and set an “overweight” rating for the company in a research note on Tuesday, October 4th. Citigroup decreased their price target on shares of Zymeworks from $27.00 to $21.00 in a research note on Wednesday, September 14th. Finally, SVB Leerink lowered shares of Zymeworks from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $19.00 to $8.00 in a research note on Friday, October 21st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $15.25.

Zymeworks Trading Up 3.6 %

NYSE:ZYME opened at $8.04 on Thursday. The company has a 50-day moving average price of $6.58 and a 200-day moving average price of $6.26. The stock has a market cap of $506.52 million, a price-to-earnings ratio of -2.10 and a beta of 1.12. Zymeworks has a 12 month low of $4.11 and a 12 month high of $21.44.

Zymeworks (NYSE:ZYMEGet Rating) last posted its earnings results on Tuesday, November 8th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.94) by $0.22. Zymeworks had a negative net margin of 751.00% and a negative return on equity of 89.24%. The firm had revenue of $2.63 million during the quarter, compared to analysts’ expectations of $4.74 million.

Institutional Trading of Zymeworks

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Zymeworks in the first quarter worth approximately $31,000. Quantbot Technologies LP bought a new stake in shares of Zymeworks in the first quarter worth approximately $42,000. First Republic Investment Management Inc. bought a new stake in shares of Zymeworks in the first quarter worth approximately $66,000. Lazard Asset Management LLC bought a new stake in shares of Zymeworks in the first quarter worth approximately $66,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Zymeworks in the first quarter worth approximately $67,000. 92.45% of the stock is currently owned by institutional investors.

About Zymeworks

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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.

See Also

Earnings History and Estimates for Zymeworks (NYSE:ZYME)

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