Zymeworks Inc. (NYSE:ZYME) Expected to Announce Earnings of -$1.02 Per Share

Brokerages expect that Zymeworks Inc. (NYSE:ZYME) will report earnings of ($1.02) per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Zymeworks’ earnings, with the highest EPS estimate coming in at ($0.89) and the lowest estimate coming in at ($1.19). Zymeworks posted earnings per share of ($0.64) in the same quarter last year, which suggests a negative year-over-year growth rate of 59.4%. The company is scheduled to report its next earnings results on Thursday, May 6th.

According to Zacks, analysts expect that Zymeworks will report full year earnings of ($4.30) per share for the current year, with EPS estimates ranging from ($4.85) to ($3.73). For the next year, analysts expect that the firm will report earnings of ($4.57) per share, with EPS estimates ranging from ($5.05) to ($4.00). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Zymeworks.

Zymeworks (NYSE:ZYME) last released its quarterly earnings results on Wednesday, February 24th. The company reported ($0.74) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.23) by $0.49. The firm had revenue of $15.68 million for the quarter, compared to analysts’ expectations of $10.16 million. Zymeworks had a negative net margin of 569.13% and a negative return on equity of 44.06%.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Zymeworks from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Wednesday, March 31st. Barclays decreased their target price on shares of Zymeworks from $47.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 28th. Raymond James set a $74.00 target price on shares of Zymeworks and gave the stock a “strong-buy” rating in a research report on Wednesday, March 3rd. Citigroup upgraded shares of Zymeworks from a “neutral” rating to a “buy” rating in a research report on Friday, January 29th. Finally, HC Wainwright restated a “buy” rating and set a $57.00 target price on shares of Zymeworks in a research report on Monday, February 8th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Zymeworks currently has a consensus rating of “Buy” and an average price target of $49.82.

In other news, insider Kathryn O’driscoll sold 786 shares of the firm’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $34.72, for a total transaction of $27,289.92. Following the completion of the transaction, the insider now owns 5,003 shares of the company’s stock, valued at $173,704.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ali Tehrani sold 4,392 shares of the firm’s stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $34.95, for a total transaction of $153,500.40. Following the transaction, the chief executive officer now directly owns 264,717 shares of the company’s stock, valued at approximately $9,251,859.15. The disclosure for this sale can be found here. Insiders sold 8,121 shares of company stock worth $276,979 in the last 90 days. Company insiders own 4.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ZYME. FMR LLC raised its stake in shares of Zymeworks by 331.4% during the first quarter. FMR LLC now owns 2,401,897 shares of the company’s stock valued at $38,863,000 after acquiring an additional 1,845,142 shares during the last quarter. Morgan Stanley raised its stake in Zymeworks by 292.1% during the fourth quarter. Morgan Stanley now owns 1,543,645 shares of the company’s stock worth $72,952,000 after buying an additional 1,149,999 shares during the last quarter. Lone Pine Capital LLC bought a new stake in Zymeworks in the fourth quarter valued at $46,160,000. Artal Group S.A. bought a new stake in Zymeworks in the fourth quarter valued at $16,541,000. Finally, Avidity Partners Management LP increased its stake in Zymeworks by 136.2% in the fourth quarter. Avidity Partners Management LP now owns 578,100 shares of the company’s stock valued at $27,321,000 after purchasing an additional 333,400 shares in the last quarter. 75.11% of the stock is owned by hedge funds and other institutional investors.

Zymeworks stock traded down $0.05 during trading hours on Friday, hitting $27.65. The company had a trading volume of 21,980 shares, compared to its average volume of 518,466. The firm has a market cap of $1.28 billion, a PE ratio of -7.40 and a beta of 0.75. Zymeworks has a one year low of $24.82 and a one year high of $59.03. The firm has a 50-day moving average of $32.21 and a 200 day moving average of $42.55.

About Zymeworks

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, and breast 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.

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