Zacks: Analysts Expect Zymeworks Inc (NYSE:ZYME) to Post -$0.97 EPS

Brokerages forecast that Zymeworks Inc (NYSE:ZYME) will announce earnings of ($0.97) per share for the current quarter, according to Zacks. Three analysts have issued estimates for Zymeworks’ earnings, with estimates ranging from ($1.14) to ($0.79). Zymeworks posted earnings per share of $0.33 in the same quarter last year, which would suggest a negative year over year growth rate of 393.9%. The company is expected to announce its next quarterly earnings report on Wednesday, March 4th.

On average, analysts expect that Zymeworks will report full year earnings of ($2.90) per share for the current fiscal year, with EPS estimates ranging from ($3.39) to ($2.58). For the next year, analysts expect that the firm will report earnings of ($3.36) per share, with EPS estimates ranging from ($3.65) to ($3.08). Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Zymeworks.

Zymeworks (NYSE:ZYME) last issued its earnings results on Tuesday, November 5th. The company reported ($0.70) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.76) by $0.06. The business had revenue of $7.86 million for the quarter, compared to the consensus estimate of $7.77 million. Zymeworks had a negative net margin of 112.95% and a negative return on equity of 25.72%.

Several research analysts recently commented on ZYME shares. HC Wainwright started coverage on shares of Zymeworks in a research note on Monday, November 25th. They set a “buy” rating and a $65.00 price objective for the company. Stifel Nicolaus reaffirmed a “buy” rating on shares of Zymeworks in a research report on Thursday, November 21st. Raymond James upped their price target on Zymeworks from $40.00 to $60.00 and gave the stock a “strong-buy” rating in a research report on Monday, November 25th. Guggenheim assumed coverage on Zymeworks in a report on Wednesday, November 27th. They set a “buy” rating and a $48.00 price objective for the company. Finally, Zacks Investment Research cut Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $42.40.

Shares of NYSE:ZYME traded down $1.99 during trading hours on Thursday, hitting $42.10. The company’s stock had a trading volume of 6,948 shares, compared to its average volume of 231,374. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.81 and a quick ratio of 6.81. The firm’s fifty day moving average price is $35.90 and its 200 day moving average price is $26.70. Zymeworks has a 52 week low of $10.72 and a 52 week high of $45.58. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -33.41 and a beta of 1.53.

Several large investors have recently modified their holdings of the company. Millennium Management LLC lifted its stake in Zymeworks by 82,322.8% in the third quarter. Millennium Management LLC now owns 1,379,757 shares of the company’s stock valued at $34,217,000 after buying an additional 1,378,083 shares during the last quarter. Great Point Partners LLC boosted its stake in Zymeworks by 131.8% during the 3rd quarter. Great Point Partners LLC now owns 2,466,744 shares of the company’s stock worth $61,175,000 after purchasing an additional 1,402,703 shares during the period. Pictet Asset Management Ltd. purchased a new position in Zymeworks during the 3rd quarter worth $11,847,000. Stifel Financial Corp grew its position in Zymeworks by 61.7% during the 3rd quarter. Stifel Financial Corp now owns 45,861 shares of the company’s stock worth $1,137,000 after purchasing an additional 17,498 shares during the last quarter. Finally, HWG Holdings LP grew its position in Zymeworks by 181.2% during the 3rd quarter. HWG Holdings LP now owns 1,732 shares of the company’s stock worth $43,000 after purchasing an additional 1,116 shares during the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

About Zymeworks

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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