Zymeworks (NYSE:ZYME) Releases Earnings Results, Beats Expectations By $0.01 EPS

Zymeworks (NYSE:ZYME) issued its earnings results on Thursday. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01, Briefing.com reports. The business had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. Zymeworks’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.41) earnings per share.

Zymeworks Stock Performance

Shares of NYSE:ZYME traded down $0.42 on Friday, hitting $13.28. The stock had a trading volume of 1,211,125 shares, compared to its average volume of 625,201. The firm’s 50 day moving average price is $12.55 and its 200-day moving average price is $10.42. Zymeworks has a twelve month low of $6.83 and a twelve month high of $14.05. The company has a market capitalization of $943.54 million, a price-to-earnings ratio of -8.74 and a beta of 1.20.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lowered shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target on the stock. in a report on Friday. HC Wainwright reissued a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a research note on Friday. Finally, Stifel Nicolaus raised 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.

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.