Bloom Burton Estimates Zymeworks FY2024 Earnings

Zymeworks Inc. (NYSE:ZYME - Free Report) - Bloom Burton issued their FY2024 earnings per share estimates for Zymeworks in a research report issued on Thursday, November 21st. Bloom Burton analyst D. Martin forecasts 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 - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (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 company had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. During the same period in the prior year, the firm posted ($0.41) EPS. The firm's quarterly revenue was down 3.1% compared to the same quarter last year.

A number of other equities research analysts have also issued reports on the company. Citigroup increased their price target on Zymeworks from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Wells Fargo & Company cut Zymeworks from an "overweight" rating to an "equal weight" rating and set a $12.00 target price for the company. in a research report on Friday, November 1st. Stifel Nicolaus lifted their target price on Zymeworks from $21.00 to $28.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Leerink Partnrs upgraded Zymeworks from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Finally, Leerink Partners upgraded shares of Zymeworks from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Zymeworks Stock Performance

Shares of NYSE ZYME traded down $0.09 during midday trading on Monday, reaching $14.20. The stock had a trading volume of 332,204 shares, compared to its average volume of 620,929. Zymeworks has a 12-month low of $7.97 and a 12-month high of $17.70. The stock has a 50-day moving average of $13.74 and a 200-day moving average of $11.20. The company has a market capitalization of $978.10 million, a price-to-earnings ratio of -9.47 and a beta of 1.16.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. grew its position in Zymeworks by 153.3% in the first quarter. Russell Investments Group Ltd. now owns 68,388 shares of the company's stock worth $719,000 after acquiring an additional 41,384 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Zymeworks by 11.1% in the 1st quarter. ProShare Advisors LLC now owns 14,952 shares of the company's stock worth $157,000 after purchasing an additional 1,499 shares during the period. Vanguard Group Inc. increased its position in shares of Zymeworks by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 2,458,105 shares of the company's stock valued at $25,859,000 after purchasing an additional 63,393 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Zymeworks by 17.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,664 shares of the company's stock worth $165,000 after buying an additional 2,351 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Zymeworks by 14.8% during the first quarter. Public Employees Retirement System of Ohio now owns 64,673 shares of the company's stock worth $680,000 after buying an additional 8,350 shares during the period. 92.89% of the stock is owned by hedge funds and other 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.