Zymeworks (NYSE:ZYME) Announces Earnings Results

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

Zymeworks Stock Performance

NYSE ZYME traded down $0.42 during trading 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 stock has a market capitalization of $943.54 million, a price-to-earnings ratio of -8.74 and a beta of 1.20. The stock has a 50 day simple moving average of $12.55 and a 200 day simple moving average of $10.42. Zymeworks has a one year low of $6.83 and a one year high of $14.05.

Analysts Set New Price Targets

ZYME has been the topic of a number of research analyst reports. HC Wainwright reissued a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a report on Friday. Stifel Nicolaus upped their target price on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company cut shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target on the stock. in a research note on Friday.

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.