SVB Leerink Research Analysts Lift Earnings Estimates for Zymeworks Inc. (NYSE:ZYME)

Zymeworks Inc. (NYSE:ZYMEGet Rating) – Equities researchers at SVB Leerink raised their FY2022 EPS estimates for Zymeworks in a research note issued on Thursday, January 19th. SVB Leerink analyst A. Berens now forecasts that the company will post earnings of $2.45 per share for the year, up from their prior estimate of $2.43. SVB Leerink currently has a “Market Perform” rating and a $10.00 target price on the stock. The consensus estimate for Zymeworks’ current full-year earnings is $1.48 per share. SVB Leerink also issued estimates for Zymeworks’ Q4 2022 earnings at $5.03 EPS and FY2024 earnings at $0.08 EPS.

Several other research firms have also issued reports on ZYME. Stifel Nicolaus dropped their target price on shares of Zymeworks from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, October 24th. HC Wainwright dropped their target price on shares of Zymeworks from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, January 4th. Barclays boosted their target price on shares of Zymeworks from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, December 22nd. 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. Finally, Guggenheim lifted their price target on shares of Zymeworks from $15.00 to $16.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.40.

Zymeworks Stock Up 3.3 %

ZYME stock opened at $10.00 on Monday. The firm has a market cap of $630.03 million, a price-to-earnings ratio of -2.61 and a beta of 1.09. Zymeworks has a 12-month low of $4.11 and a 12-month high of $11.70. The company’s fifty day simple moving average is $7.89 and its 200 day simple moving average is $6.79.

Zymeworks (NYSE:ZYMEGet Rating) last released its earnings results on Tuesday, November 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.22. The business had revenue of $2.63 million for the quarter, compared to analyst estimates of $4.74 million. Zymeworks had a negative net margin of 751.00% and a negative return on equity of 89.24%.

Institutional Investors Weigh In On Zymeworks

Several hedge funds and other institutional investors have recently made changes to their positions in ZYME. Quantbot Technologies LP bought a new stake in shares of Zymeworks during the first quarter worth about $42,000. Envestnet Asset Management Inc. bought a new stake in Zymeworks in the 2nd quarter worth about $62,000. First Republic Investment Management Inc. bought a new stake in Zymeworks in the 1st quarter worth about $66,000. Lazard Asset Management LLC bought a new stake in Zymeworks in the 1st quarter worth about $66,000. Finally, ExodusPoint Capital Management LP bought a new stake in Zymeworks in the 3rd quarter worth about $68,000. 88.28% of the stock is owned by institutional investors.

Insider Transactions at Zymeworks

In other Zymeworks news, major shareholder Ecor1 Capital, Llc bought 440,000 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The stock was bought at an average cost of $9.80 per share, with a total value of $4,312,000.00. Following the completion of the transaction, the insider now directly owns 9,376,973 shares in the company, valued at approximately $91,894,335.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 1,702,100 shares of company stock valued at $14,706,001 over the last three months. Corporate insiders own 1.63% of the company’s stock.

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.

Recommended Stories

Earnings History and Estimates for Zymeworks (NYSE:ZYME)

Receive News & Ratings for Zymeworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zymeworks and related companies with MarketBeat.com's FREE daily email newsletter.