Zymeworks FY2024 EPS Forecast Increased by Leerink Partnrs

Zymeworks Inc. (NYSE:ZYME) – Stock analysts at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for shares of Zymeworks in a research report issued on Thursday, November 7th. Leerink Partnrs analyst A. Berens now expects that the company will earn ($0.38) per share for the year, up from their prior forecast of ($0.60). Leerink Partnrs currently 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.

Several other analysts also recently issued reports on the company. HC Wainwright reiterated a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a report on Friday, November 1st. Stifel Nicolaus increased their price target on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and increased their price target for the company from $10.00 to $25.00 in a report on Thursday, November 7th. Wells Fargo & Company downgraded Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target for the company. in a report on Friday, November 1st. Finally, Citigroup increased their price target on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Zymeworks Stock Up 4.2 %

ZYME stock opened at $17.33 on Monday. Zymeworks has a 52 week low of $7.13 and a 52 week high of $17.36. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -11.55 and a beta of 1.16. The business has a fifty day simple moving average of $13.11 and a 200-day simple moving average of $10.79.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. The business had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.41) EPS.

Institutional Trading of Zymeworks

Large investors have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Zymeworks during the first quarter worth about $579,000. O Shaughnessy Asset Management LLC lifted its position in shares of Zymeworks by 51.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 255,497 shares of the company’s stock worth $2,688,000 after purchasing an additional 86,797 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Zymeworks during the second quarter worth about $1,683,000. Rubric Capital Management LP lifted its position in shares of Zymeworks by 12.7% during the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after purchasing an additional 441,947 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Zymeworks by 401.9% during the second quarter. Squarepoint Ops LLC now owns 73,324 shares of the company’s stock worth $624,000 after purchasing an additional 58,716 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.