FY2024 EPS Estimates for Zymeworks Raised by Leerink Partnrs

Zymeworks Inc. (NYSE:ZYME) – Stock analysts at Leerink Partnrs upped their FY2024 earnings per share estimates for Zymeworks in a research note issued to investors on Thursday, November 7th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings of ($0.38) per share for the year, up from their previous forecast of ($0.60). Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for Zymeworks’ current full-year earnings is ($1.01) per share. Leerink Partnrs also issued estimates for Zymeworks’ FY2025 earnings at ($1.55) EPS, FY2026 earnings at ($2.13) EPS and FY2027 earnings at ($2.47) EPS.

Several other research firms have also recently weighed in on ZYME. Citigroup boosted their price target on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $10.00 to $25.00 in a research note on Thursday. Wells Fargo & Company cut Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target for the company. in a research note on Friday, November 1st. Stifel Nicolaus boosted their price target on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, HC Wainwright restated a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zymeworks presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Zymeworks Trading Down 0.8 %

Zymeworks stock opened at $16.63 on Monday. The business’s fifty day simple moving average is $13.00 and its two-hundred day simple moving average is $10.72. Zymeworks has a 12 month low of $6.83 and a 12 month high of $17.26. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -11.09 and a beta of 1.16.

Zymeworks (NYSE:ZYME) last released its earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. During the same period in the previous year, the company posted ($0.41) earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year.

Hedge Funds Weigh In On Zymeworks

Hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale bought a new position in Zymeworks during the third quarter valued at approximately $47,000. nVerses Capital LLC bought a new position in Zymeworks during the third quarter valued at approximately $79,000. Quest Partners LLC boosted its stake in Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after buying an additional 9,096 shares during the last quarter. MQS Management LLC bought a new position in Zymeworks during the second quarter valued at approximately $92,000. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of Zymeworks in the 1st quarter valued at approximately $117,000. Institutional investors own 92.89% of the company’s stock.

Zymeworks Company Profile

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.