Q4 Earnings Estimate for Zymeworks Issued By Leerink Partnrs

Zymeworks Inc. (NYSE:ZYME) – Analysts at Leerink Partnrs decreased their Q4 2024 earnings per share (EPS) estimates for shares of Zymeworks in a research report issued on Thursday, November 7th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings of $0.70 per share for the quarter, down from their previous estimate of $0.86. Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Zymeworks’ current full-year earnings is ($1.05) per share.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.01. The business had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.41) EPS.

Several other research analysts also recently weighed in on ZYME. HC Wainwright restated a “neutral” rating and set a $12.00 price target on shares of Zymeworks in a research report on Friday, November 1st. Citigroup increased their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus boosted their target price on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company cut Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target for the company. in a report on Friday, November 1st. Finally, Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $10.00 to $25.00 in a research note on Thursday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned 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 $19.00.

Zymeworks Stock Down 0.8 %

NYSE:ZYME opened at $16.63 on Friday. Zymeworks has a 52 week low of $6.83 and a 52 week high of $17.26. The stock has a market capitalization of $1.15 billion, a PE ratio of -11.09 and a beta of 1.16. The stock’s 50-day moving average price is $13.00 and its 200-day moving average price is $10.69.

Hedge Funds Weigh In On Zymeworks

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC grew its position in shares of Zymeworks by 8.2% during the first quarter. Empowered Funds LLC now owns 295,783 shares of the company’s stock worth $3,112,000 after buying an additional 22,367 shares in the last quarter. Swiss National Bank increased its position in shares of Zymeworks by 12.8% in the 1st quarter. Swiss National Bank now owns 83,000 shares of the company’s stock valued at $873,000 after purchasing an additional 9,400 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Zymeworks in the 1st quarter valued at $579,000. Russell Investments Group Ltd. lifted its holdings in Zymeworks by 153.3% during the 1st quarter. Russell Investments Group Ltd. now owns 68,388 shares of the company’s stock worth $719,000 after buying an additional 41,384 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Zymeworks by 11.1% during the 1st quarter. ProShare Advisors LLC now owns 14,952 shares of the company’s stock worth $157,000 after acquiring an additional 1,499 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.