Q2 2024 EPS Estimates for Zymeworks Inc. (NYSE:ZYME) Decreased by Analyst

Zymeworks Inc. (NYSE:ZYME) – Investment analysts at HC Wainwright cut their Q2 2024 earnings per share (EPS) estimates for shares of Zymeworks in a report issued on Tuesday, June 18th. HC Wainwright analyst R. Burns now expects that the company will post earnings of ($0.36) per share for the quarter, down from their prior estimate of ($0.34). HC Wainwright currently has a “Neutral” rating and a $10.00 target price on the stock. The consensus estimate for Zymeworks’ current full-year earnings is ($1.20) per share. HC Wainwright also issued estimates for Zymeworks’ Q3 2024 earnings at ($0.39) EPS, Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.58) EPS and FY2025 earnings at ($1.83) EPS.

Zymeworks (NYSE:ZYME) last issued its earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). Zymeworks had a negative return on equity of 28.37% and a negative net margin of 249.63%. The business had revenue of $10.03 million for the quarter, compared to analyst estimates of $17.98 million.

ZYME has been the subject of a number of other reports. Wells Fargo & Company decreased their target price on Zymeworks from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Citigroup reduced their price objective on Zymeworks from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, May 3rd.

Zymeworks Price Performance

Shares of NYSE:ZYME opened at $8.41 on Friday. The company has a market cap of $594.67 million, a PE ratio of -4.70 and a beta of 1.18. Zymeworks has a fifty-two week low of $6.01 and a fifty-two week high of $13.14. The firm has a 50-day simple moving average of $8.82 and a 200 day simple moving average of $9.99.

Institutional Investors Weigh In On Zymeworks

Several large investors have recently made changes to their positions in ZYME. AlphaMark Advisors LLC acquired a new position in shares of Zymeworks during the first quarter valued at $32,000. Gladius Capital Management LP increased its stake in Zymeworks by 36.5% during the 3rd quarter. Gladius Capital Management LP now owns 3,940 shares of the company’s stock valued at $25,000 after buying an additional 1,053 shares during the period. New York State Teachers Retirement System bought a new stake in shares of Zymeworks during the 4th quarter worth about $50,000. AJOVista LLC acquired a new stake in shares of Zymeworks in the 4th quarter worth approximately $66,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Zymeworks in the fourth quarter valued at approximately $84,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

About Zymeworks

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.