Bloom Burton Forecasts Zymeworks FY2024 Earnings

Zymeworks Inc. (NYSE:ZYME) – Investment analysts at Bloom Burton issued their FY2024 earnings per share (EPS) estimates for shares of Zymeworks in a note issued to investors on Thursday, November 21st. Bloom Burton analyst D. Martin expects that the company will post earnings of ($1.44) per share for the year. The consensus estimate for Zymeworks’ current full-year earnings is ($1.08) per share. Bloom Burton also issued estimates for Zymeworks’ FY2025 earnings at ($1.76) EPS and FY2026 earnings at ($1.84) EPS.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm had revenue of $16.00 million for the quarter, compared to analyst estimates of $17.90 million. During the same period last year, the business earned ($0.41) EPS. Zymeworks’s revenue for the quarter was down 3.1% compared to the same quarter last year.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus increased their price target on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. HC Wainwright restated a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a report on Friday. Wells Fargo & Company lowered Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 target price on the stock. in a report on Friday, November 1st. Citigroup raised their price target on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Leerink Partners upgraded shares of 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 report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zymeworks currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Zymeworks Trading Up 4.5 %

ZYME stock opened at $14.29 on Monday. The business has a 50 day simple moving average of $13.74 and a 200-day simple moving average of $11.20. The company has a market capitalization of $984.30 million, a P/E ratio of -9.53 and a beta of 1.16. Zymeworks has a twelve month low of $7.97 and a twelve month high of $17.70.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new position in shares of Zymeworks during the second quarter worth about $1,683,000. Rubric Capital Management LP boosted its holdings in Zymeworks by 12.7% in the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after acquiring an additional 441,947 shares during the period. Squarepoint Ops LLC boosted its holdings in Zymeworks by 401.9% in the 2nd quarter. Squarepoint Ops LLC now owns 73,324 shares of the company’s stock worth $624,000 after acquiring an additional 58,716 shares during the period. Perceptive Advisors LLC grew its position in Zymeworks by 55.2% in the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock valued at $14,192,000 after acquiring an additional 592,904 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Zymeworks by 104.8% during the second quarter. Renaissance Technologies LLC now owns 236,781 shares of the company’s stock valued at $2,015,000 after purchasing an additional 121,181 shares during the period. Hedge funds and other 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.