Leerink Partnrs Expects Increased Earnings for Zymeworks

Zymeworks Inc. (NYSE:ZYME) – Leerink Partnrs raised their FY2024 earnings estimates for Zymeworks in a research note issued on Thursday, November 7th. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings per share of ($0.38) for the year, up from their prior forecast 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.

Zymeworks (NYSE:ZYME) last posted 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 business had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. During the same period last year, the firm earned ($0.41) EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year.

Other analysts also recently issued research reports about the stock. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. HC Wainwright restated a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a report on Friday, November 1st. Stifel Nicolaus lifted their price objective on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company downgraded Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 target price on the stock. in a research report on Friday, November 1st. Finally, Citigroup raised their price target on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Zymeworks presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Zymeworks Stock Up 0.4 %

NYSE:ZYME opened at $17.40 on Monday. The firm’s fifty day simple moving average is $13.23 and its 200-day simple moving average is $10.85. The stock has a market cap of $1.20 billion, a PE ratio of -11.60 and a beta of 1.16. Zymeworks has a fifty-two week low of $7.13 and a fifty-two week high of $17.70.

Institutional Investors Weigh In On Zymeworks

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Zymeworks by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after acquiring an additional 650 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Zymeworks by 2.9% during the 1st quarter. California State Teachers Retirement System now owns 43,420 shares of the company’s stock worth $457,000 after purchasing an additional 1,215 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Zymeworks by 11.1% during the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock worth $109,000 after buying an additional 1,285 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Zymeworks by 11.1% in the first quarter. ProShare Advisors LLC now owns 14,952 shares of the company’s stock valued at $157,000 after buying an additional 1,499 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its stake in shares of Zymeworks by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 90,158 shares of the company’s stock valued at $767,000 after buying an additional 1,772 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.