Zymeworks Inc (NYSE:ZYME) Expected to Announce Quarterly Sales of $7.77 Million

Wall Street analysts forecast that Zymeworks Inc (NYSE:ZYME) will announce sales of $7.77 million for the current quarter, Zacks reports. Two analysts have issued estimates for Zymeworks’ earnings, with the highest sales estimate coming in at $8.03 million and the lowest estimate coming in at $7.50 million. Zymeworks reported sales of $2.05 million in the same quarter last year, which indicates a positive year over year growth rate of 279%. The company is expected to issue its next earnings results on Tuesday, November 5th.

On average, analysts expect that Zymeworks will report full-year sales of $24.73 million for the current fiscal year, with estimates ranging from $12.00 million to $33.58 million. For the next fiscal year, analysts anticipate that the business will post sales of $43.65 million, with estimates ranging from $33.00 million to $59.59 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Zymeworks.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Friday, August 2nd. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.06). The company had revenue of $7.88 million for the quarter, compared to analyst estimates of $7.25 million. Zymeworks had a negative return on equity of 24.44% and a negative net margin of 102.78%.

ZYME has been the topic of several analyst reports. Stifel Nicolaus initiated coverage on Zymeworks in a report on Friday, August 30th. They set a “buy” rating and a $45.00 target price on the stock. Barclays boosted their price target on Zymeworks from $15.00 to $23.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Deutsche Bank initiated coverage on Zymeworks in a research report on Thursday, July 18th. They issued a “buy” rating and a $34.00 price objective on the stock. Raymond James set a $36.00 price objective on shares of Zymeworks and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, ValuEngine cut shares of Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $34.75.

Shares of ZYME stock traded down $1.90 on Friday, hitting $26.98. The company had a trading volume of 507,554 shares, compared to its average volume of 205,173. The firm has a market cap of $1.14 billion, a P/E ratio of -21.41 and a beta of 1.36. The company has a 50-day moving average price of $25.22 and a 200-day moving average price of $20.12. The company has a quick ratio of 9.07, a current ratio of 9.07 and a debt-to-equity ratio of 0.02. Zymeworks has a twelve month low of $10.72 and a twelve month high of $29.75.

Large investors have recently bought and sold shares of the company. Sofinnova Investments Inc. acquired a new position in Zymeworks in the 2nd quarter worth about $4,137,000. Taylor Wealth Management Partners acquired a new stake in Zymeworks in the 2nd quarter valued at $1,763,000. Acadian Asset Management LLC increased its holdings in Zymeworks by 42.2% in the 2nd quarter. Acadian Asset Management LLC now owns 233,472 shares of the company’s stock worth $5,137,000 after acquiring an additional 69,337 shares in the last quarter. Monashee Investment Management LLC purchased a new stake in Zymeworks in the 2nd quarter worth $1,760,000. Finally, Granite Investment Partners LLC raised its position in Zymeworks by 87.8% during the first quarter. Granite Investment Partners LLC now owns 27,277 shares of the company’s stock worth $441,000 after acquiring an additional 12,750 shares during the period. Hedge funds and other institutional investors own 49.95% of the company’s stock.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.

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Earnings History and Estimates for Zymeworks (NYSE:ZYME)

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