Zymeworks (ZYME) Expected to Announce Quarterly Earnings on Thursday

Zymeworks (NYSE:ZYME) is expected to be announcing its earnings results after the market closes on Thursday, August 7th. Analysts expect the company to announce earnings of ($0.52) per share and revenue of $17.18 million for the quarter.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.15. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm had revenue of $27.11 million during the quarter, compared to the consensus estimate of $20.65 million. During the same period last year, the firm posted ($0.42) EPS. The firm’s revenue for the quarter was up 170.3% on a year-over-year basis. On average, analysts expect Zymeworks to post $-1 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Zymeworks Trading Down 0.5%

NYSE:ZYME opened at $12.54 on Wednesday. The firm has a 50-day moving average price of $12.87 and a two-hundred day moving average price of $12.73. Zymeworks has a twelve month low of $9.03 and a twelve month high of $17.70. The company has a market capitalization of $873.82 million, a P/E ratio of -8.36 and a beta of 1.26.

Insider Activity

In other Zymeworks news, Director Ecor1 Capital, Llc bought 5,919 shares of the stock in a transaction on Monday, May 19th. The stock was purchased at an average price of $11.78 per share, for a total transaction of $69,725.82. Following the completion of the purchase, the director directly owned 17,883,908 shares in the company, valued at approximately $210,672,436.24. This trade represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.92% of the company’s stock.

Hedge Funds Weigh In On Zymeworks

Several hedge funds and other institutional investors have recently modified their holdings of ZYME. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Zymeworks by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company’s stock valued at $386,000 after acquiring an additional 1,427 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Zymeworks by 86.0% during the first quarter. AQR Capital Management LLC now owns 48,485 shares of the company’s stock valued at $577,000 after acquiring an additional 22,411 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of Zymeworks by 487.0% during the first quarter. Jane Street Group LLC now owns 135,763 shares of the company’s stock valued at $1,617,000 after acquiring an additional 112,636 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ZYME shares. HC Wainwright reiterated a “neutral” rating and set a $13.00 price objective on shares of Zymeworks in a research note on Thursday, July 3rd. TD Securities started coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They set a “buy” rating on the stock. Finally, TD Cowen started coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

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.