Zymeworks (ZYME) Expected to Announce Quarterly Earnings on Thursday

Zymeworks (NYSE:ZYME) is anticipated to issue its results after the market closes on Thursday, November 6th. Analysts expect the company to announce earnings of ($0.28) per share and revenue of $33.6850 million for the quarter.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.52) by $0.55. The business had revenue of $48.73 million for the quarter, compared to analysts’ expectations of $17.18 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business’s quarterly revenue was up 153.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.49) EPS. On average, analysts expect Zymeworks to post $-1 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Zymeworks Stock Up 0.4%

Shares of ZYME stock opened at $19.38 on Thursday. The company’s fifty day simple moving average is $16.47 and its two-hundred day simple moving average is $13.95. Zymeworks has a 52 week low of $9.03 and a 52 week high of $19.50. The stock has a market cap of $1.46 billion, a P/E ratio of -12.92 and a beta of 1.51.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Zymeworks from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. B. Riley assumed coverage on shares of Zymeworks in a report on Friday, October 10th. They set a “buy” rating and a $30.00 price target on the stock. Wells Fargo & Company assumed coverage on shares of Zymeworks in a report on Friday, October 24th. They set an “equal weight” rating and a $15.00 price target on the stock. Citigroup upped their price target on shares of Zymeworks from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, August 11th. Finally, HC Wainwright reiterated a “buy” rating on shares of Zymeworks in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Zymeworks currently has a consensus rating of “Buy” and an average target price of $24.43.

Institutional Investors Weigh In On Zymeworks

A number of hedge funds and other institutional investors have recently bought and sold shares of ZYME. Rhumbline Advisers raised its holdings in Zymeworks by 4.0% during the second quarter. Rhumbline Advisers now owns 86,083 shares of the company’s stock worth $1,080,000 after acquiring an additional 3,345 shares in the last quarter. Acuta Capital Partners LLC grew its position in Zymeworks by 22.2% during the second quarter. Acuta Capital Partners LLC now owns 83,655 shares of the company’s stock worth $1,050,000 after buying an additional 15,196 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Zymeworks during the second quarter worth approximately $877,000. AQR Capital Management LLC grew its position in Zymeworks by 86.0% during the first quarter. AQR Capital Management LLC now owns 48,485 shares of the company’s stock worth $577,000 after buying an additional 22,411 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Zymeworks during the second quarter worth approximately $461,000. Institutional investors and hedge funds 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.