Zacks: Brokerages Expect Zymeworks Inc (NYSE:ZYME) to Post -$0.64 Earnings Per Share

Analysts expect that Zymeworks Inc (NYSE:ZYME) will report earnings of ($0.64) per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Zymeworks’ earnings, with the lowest EPS estimate coming in at ($0.84) and the highest estimate coming in at ($0.39). Zymeworks posted earnings per share of ($0.59) in the same quarter last year, which suggests a negative year over year growth rate of 8.5%. The firm is scheduled to report its next earnings results on Tuesday, November 5th.

On average, analysts expect that Zymeworks will report full year earnings of ($2.58) per share for the current year, with EPS estimates ranging from ($3.38) to ($1.83). For the next fiscal year, analysts expect that the firm will post earnings of ($2.80) per share, with EPS estimates ranging from ($3.48) to ($2.12). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover Zymeworks.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Friday, August 2nd. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.06). Zymeworks had a negative return on equity of 24.44% and a negative net margin of 102.78%. The company had revenue of $7.88 million for the quarter, compared to analyst estimates of $7.25 million.

Several brokerages recently weighed in on ZYME. Raymond James set a $36.00 price target on Zymeworks and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Zacks Investment Research raised shares of Zymeworks from a “sell” rating to a “hold” rating in a research note on Saturday, August 31st. Deutsche Bank assumed coverage on shares of Zymeworks in a research report on Thursday, July 18th. They set a “buy” rating and a $34.00 price objective for the company. ValuEngine cut shares of Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Finally, Citigroup raised their target price on shares of Zymeworks from $22.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $34.75.

Shares of NYSE:ZYME traded down $1.90 during trading on Thursday, reaching $26.98. The company had a trading volume of 507,554 shares, compared to its average volume of 205,173. Zymeworks has a fifty-two week low of $10.72 and a fifty-two week high of $29.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.07 and a quick ratio of 9.07. The stock’s fifty day moving average price is $25.22 and its 200 day moving average price is $20.12. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -21.41 and a beta of 1.36.

Several hedge funds have recently modified their holdings of ZYME. Sofinnova Investments Inc. acquired a new stake in shares of Zymeworks in the 2nd quarter valued at approximately $4,137,000. Taylor Wealth Management Partners purchased a new stake in shares of Zymeworks in the second quarter valued at approximately $1,763,000. Acadian Asset Management LLC boosted its stake in shares of Zymeworks by 42.2% in the second quarter. Acadian Asset Management LLC now owns 233,472 shares of the company’s stock valued at $5,137,000 after buying an additional 69,337 shares in the last quarter. Monashee Investment Management LLC acquired a new position in Zymeworks during the second quarter worth $1,760,000. Finally, Granite Investment Partners LLC grew its holdings in Zymeworks by 87.8% during the first quarter. Granite Investment Partners LLC now owns 27,277 shares of the company’s stock worth $441,000 after acquiring an additional 12,750 shares during the period. 49.95% of the stock is owned by institutional investors and hedge funds.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.

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Earnings History and Estimates for Zymeworks (NYSE:ZYME)

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