Bloom Burton Predicts Zymeworks FY2024 Earnings

Zymeworks Inc. (NYSE:ZYME) – Bloom Burton issued their FY2024 earnings per share estimates for Zymeworks in a research note issued on Thursday, November 21st. Bloom Burton analyst D. Martin expects that the company will post earnings per share of ($1.44) 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.

A number of other research analysts also recently issued reports on ZYME. Wells Fargo & Company downgraded shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target on the stock. in a research report on Friday, November 1st. Stifel Nicolaus raised their target price on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 target price on shares of Zymeworks in a report on Friday. Leerink Partners raised Zymeworks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. Finally, Leerink Partnrs upgraded Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Zymeworks Price Performance

Zymeworks stock opened at $14.29 on Monday. Zymeworks has a 12 month low of $7.97 and a 12 month high of $17.70. The company has a fifty day moving average price of $13.74 and a two-hundred day moving average price of $11.20. The company has a market cap of $984.30 million, a PE ratio of -9.53 and a beta of 1.16.

Zymeworks (NYSE:ZYME) last issued its 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. The company had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.41) EPS.

Hedge Funds Weigh In On Zymeworks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZYME. FMR LLC grew its position in Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after buying an additional 1,525 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Zymeworks in the third quarter valued at approximately $47,000. Quest Partners LLC increased its stake in shares of Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after acquiring an additional 9,096 shares during the period. nVerses Capital LLC acquired a new position in shares of Zymeworks during the third quarter valued at approximately $79,000. Finally, MQS Management LLC bought a new stake in Zymeworks during the second quarter worth approximately $92,000. 92.89% of the stock is owned by institutional investors.

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 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.