Zymeworks (NYSE:ZYME) Issues Earnings Results

by · The Markets Daily

Zymeworks (NYSE:ZYME – Get Free Report) announced its earnings results on Thursday. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02, Briefing.com reports. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. Zymeworks’s quarterly revenue was up 72.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.39) earnings per share.

Zymeworks Price Performance

NYSE:ZYME traded down $0.15 during trading hours on Thursday, reaching $17.90. The company had a trading volume of 1,274,834 shares, compared to its average volume of 574,056. Zymeworks has a 1-year low of $9.03 and a 1-year high of $19.98. The firm has a market cap of $1.35 billion, a PE ratio of -11.93 and a beta of 1.48. The business’s 50 day moving average price is $16.92 and its 200-day moving average price is $14.24.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its holdings in Zymeworks by 29.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock valued at $62,000 after acquiring an additional 1,131 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Zymeworks by 157.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,307 shares of the company’s stock worth $129,000 after buying an additional 6,307 shares during the period. Brevan Howard Capital Management LP acquired a new position in shares of Zymeworks during the 2nd quarter worth approximately $133,000. Engineers Gate Manager LP raised its stake in shares of Zymeworks by 52.8% during the 2nd quarter. Engineers Gate Manager LP now owns 18,941 shares of the company’s stock worth $238,000 after buying an additional 6,542 shares during the period. Finally, Creative Planning raised its stake in shares of Zymeworks by 114.8% during the 2nd quarter. Creative Planning now owns 25,389 shares of the company’s stock worth $319,000 after buying an additional 13,567 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ZYME shares. B. Riley started coverage on shares of Zymeworks in a report on Friday, October 10th. They issued a “buy” rating and a $30.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Zymeworks from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. HC Wainwright restated a “buy” rating on shares of Zymeworks in a research note on Monday, October 27th. Citigroup upped their target price on Zymeworks from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Finally, Wells Fargo & Company started coverage on Zymeworks in a research report on Friday, October 24th. They issued an “equal weight” rating and a $15.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $24.43.

Get Our Latest Analysis on Zymeworks

Zymeworks Company Profile

(Get Free Report)

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.

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