Zymeworks (NASDAQ:ZYME) Releases Earnings Results, Beats Estimates By $0.01 EPS

Zymeworks (NASDAQ:ZYME) released its earnings results on Monday. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.01, FiscalAI reports. Zymeworks had a negative return on equity of 72.30% and a negative net margin of 405.31%. The business had revenue of $512.92 million for the quarter, compared to analyst estimates of $227.40 million.

Zymeworks Trading Up 4.0%

Shares of NASDAQ:ZYME traded up $1.18 on Monday, reaching $30.81. 1,163,610 shares of the company were exchanged, compared to its average volume of 779,303. Zymeworks has a 1-year low of $16.57 and a 1-year high of $31.49. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -15.25 and a beta of 1.32. The company has a 50-day moving average of $27.40 and a 200-day moving average of $25.34.

Insider Activity

In related news, EVP Adam Schayowitz sold 13,832 shares of the firm’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $25.85, for a total value of $357,557.20. Following the completion of the sale, the executive vice president owned 23,205 shares in the company, valued at $599,849.25. This trade represents a 37.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 37.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup reiterated a “market outperform” rating on shares of Zymeworks in a research report on Monday, October 26th. Citizens Jmp reissued a “market outperform” rating and issued a $32.00 price objective on shares of Zymeworks in a research note on Wednesday, August 26th. HC Wainwright upped their price objective on shares of Zymeworks from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Jefferies Financial Group restated a “buy” rating and issued a $52.00 target price on shares of Zymeworks in a research note on Friday, October 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zymeworks in a report on Thursday, October 15th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.67.

Zymeworks Company Profile

Zymeworks Inc is a biotechnology company headquartered in Vancouver, Canada, that develops engineered medicines, with a focus on treatments for cancer and other serious diseases. Its antibody-engineering technologies are designed to create therapies that can engage multiple biological targets or modify immune responses.

The company’s lead program is zanidatamab, a HER2-targeted bispecific antibody. In the United States, it is marketed by partner Jazz Pharmaceuticals as Ziihera for certain adults with previously treated, unresectable or metastatic biliary tract cancer.