FY2024 EPS Estimates for Zymeworks Lifted by Leerink Partnrs

Zymeworks Inc. (NYSE:ZYME - Free Report) - Analysts at Leerink Partnrs upped their FY2024 earnings estimates for shares of Zymeworks in a research note issued to investors on Thursday, November 7th. Leerink Partnrs analyst A. Berens now forecasts that the company will earn ($0.38) per share for the year, up from their prior estimate of ($0.60). Leerink Partnrs has a "Strong-Buy" rating on the stock. The consensus estimate for Zymeworks' current full-year earnings is ($1.01) per share. Leerink Partnrs also issued estimates for Zymeworks' FY2025 earnings at ($1.55) EPS, FY2026 earnings at ($2.13) EPS and FY2027 earnings at ($2.47) EPS.

ZYME has been the topic of a number of other research reports. HC Wainwright reiterated a "neutral" rating and set a $12.00 target price on shares of Zymeworks in a research note on Friday, November 1st. Wells Fargo & Company lowered 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. Citigroup boosted 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 lifted their price target on shares of Zymeworks from $21.00 to $28.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Finally, Leerink Partners upgraded Zymeworks from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $10.00 to $25.00 in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $19.00.

Zymeworks Stock Performance

NYSE:ZYME traded up $0.70 during mid-day trading on Monday, hitting $17.33. The stock had a trading volume of 573,294 shares, compared to its average volume of 627,015. The company's 50 day simple moving average is $13.11 and its 200 day simple moving average is $10.79. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -11.55 and a beta of 1.16. Zymeworks has a twelve month low of $7.13 and a twelve month high of $17.36.

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

Institutional Trading of Zymeworks

Large investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new stake in Zymeworks in the 3rd quarter worth about $47,000. Quest Partners LLC grew its holdings in shares of Zymeworks by 8,049.6% in 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 in the last quarter. nVerses Capital LLC purchased a new stake in shares of Zymeworks during the third quarter valued at approximately $79,000. MQS Management LLC bought a new stake in Zymeworks during the second quarter worth $92,000. Finally, Arizona State Retirement System boosted its position in Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company's stock worth $109,000 after purchasing an additional 1,285 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.