Bloom Burton Comments on Zymeworks FY2024 Earnings

Zymeworks Inc. (NYSE:ZYME) – Analysts at Bloom Burton issued their FY2024 EPS estimates for Zymeworks in a note issued to investors on Thursday, November 21st. Bloom Burton analyst D. Martin anticipates that the company will post earnings of ($1.44) per share for the year. The consensus estimate for Zymeworks’ current full-year earnings is ($1.08) per share. Bloom Burton also issued estimates for Zymeworks’ FY2025 earnings at ($1.76) EPS and FY2026 earnings at ($1.84) EPS.

Zymeworks (NYSE:ZYME) last issued its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. The company 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 23.00% and a negative net margin of 182.75%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.41) EPS.

Several other equities analysts also recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. HC Wainwright reissued a “neutral” rating and set a $12.00 target price on shares of Zymeworks in a report on Friday, November 22nd. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $10.00 to $25.00 in a research 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 on the stock. in a research report on Friday, November 1st. Finally, Citigroup boosted their price objective on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Zymeworks has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Zymeworks Stock Up 0.7 %

Shares of NYSE:ZYME opened at $14.30 on Monday. Zymeworks has a 52-week low of $7.97 and a 52-week high of $17.70. The stock has a market cap of $984.98 million, a price-to-earnings ratio of -9.24 and a beta of 1.16. The business has a 50-day moving average price of $13.77 and a 200-day moving average price of $11.24.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of Zymeworks by 153.3% in the first quarter. Russell Investments Group Ltd. now owns 68,388 shares of the company’s stock valued at $719,000 after buying an additional 41,384 shares in the last quarter. ProShare Advisors LLC increased its holdings in Zymeworks by 11.1% in the 1st quarter. ProShare Advisors LLC now owns 14,952 shares of the company’s stock worth $157,000 after acquiring an additional 1,499 shares in the last quarter. Vanguard Group Inc. raised its position in Zymeworks by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,458,105 shares of the company’s stock worth $25,859,000 after acquiring an additional 63,393 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Zymeworks by 17.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,664 shares of the company’s stock valued at $165,000 after purchasing an additional 2,351 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in shares of Zymeworks by 14.8% in the first quarter. Public Employees Retirement System of Ohio now owns 64,673 shares of the company’s stock valued at $680,000 after purchasing an additional 8,350 shares during the period. Hedge funds and other institutional investors 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.