Zymeworks (NYSE:ZYME) Announces Earnings Results

Zymeworks (NYSE:ZYME - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.01, Briefing.com reports. Zymeworks had a negative return on equity of 22.09% and a negative net margin of 182.75%. The company had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. During the same period in the previous year, the business earned ($0.41) EPS. Zymeworks's revenue for the quarter was down 3.1% on a year-over-year basis.

Zymeworks Trading Down 3.1 %

Shares of Zymeworks stock traded down $0.42 on Friday, reaching $13.28. 1,211,665 shares of the stock were exchanged, compared to its average volume of 417,993. The firm has a market capitalization of $943.54 million, a PE ratio of -8.85 and a beta of 1.16. Zymeworks has a 1-year low of $6.83 and a 1-year high of $14.05. The business has a fifty day moving average price of $12.59 and a two-hundred day moving average price of $10.45.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. HC Wainwright reiterated a "neutral" rating and issued a $12.00 price target on shares of Zymeworks in a research note on Friday. Wells Fargo & Company cut shares of Zymeworks from an "overweight" rating to an "equal weight" rating and set a $12.00 target price for the company. in a report on Friday. Finally, Stifel Nicolaus lifted their price target on shares of Zymeworks from $21.00 to $28.00 and gave the stock a "buy" rating in a research note on Monday, October 28th.

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.