Q2 2024 Earnings Forecast for Zymeworks Inc. Issued By HC Wainwright (NYSE:ZYME)

Zymeworks Inc. (NYSE:ZYME) – Research analysts at HC Wainwright decreased their Q2 2024 earnings per share (EPS) estimates for Zymeworks in a research report issued on Tuesday, June 18th. HC Wainwright analyst R. Burns now forecasts that the company will post earnings per share of ($0.36) for the quarter, down from their previous forecast of ($0.34). HC Wainwright currently has a “Neutral” rating and a $10.00 price target on the stock. The consensus estimate for Zymeworks’ current full-year earnings is ($1.20) per share. HC Wainwright also issued estimates for Zymeworks’ Q3 2024 earnings at ($0.39) EPS, Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.58) EPS and FY2025 earnings at ($1.83) EPS.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, May 2nd. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). The business had revenue of $10.03 million for the quarter, compared to the consensus estimate of $17.98 million. Zymeworks had a negative net margin of 249.63% and a negative return on equity of 28.37%.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company cut their price objective on shares of Zymeworks from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Citigroup lowered their price target on Zymeworks from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, May 3rd.

Zymeworks Stock Performance

Shares of NYSE:ZYME opened at $8.41 on Friday. The business has a 50-day simple moving average of $8.84 and a two-hundred day simple moving average of $10.00. Zymeworks has a fifty-two week low of $6.01 and a fifty-two week high of $13.14. The firm has a market cap of $594.67 million, a price-to-earnings ratio of -4.70 and a beta of 1.18.

Institutional Investors Weigh In On Zymeworks

Several large investors have recently bought and sold shares of the business. Rubric Capital Management LP increased its holdings in shares of Zymeworks by 31.1% in the 4th quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock worth $36,109,000 after buying an additional 823,990 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Zymeworks during the first quarter worth approximately $1,752,000. Wellington Management Group LLP raised its position in Zymeworks by 177.9% during the third quarter. Wellington Management Group LLP now owns 156,682 shares of the company’s stock valued at $993,000 after purchasing an additional 100,304 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Zymeworks by 742.4% in the 3rd quarter. Acadian Asset Management LLC now owns 825,988 shares of the company’s stock valued at $5,233,000 after purchasing an additional 727,934 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of Zymeworks in the 4th quarter worth approximately $329,000. 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.