Brokers Issue Earnings Estimates for Zymeworks Inc. in the First Quarter of 2023

Zymeworks (ZYME): In a research report released on November 21st, HC Wainwright provided their projections for Zymeworks’ earnings per share (EPS) for the first quarter of 2023. By R. According to HC Wainwright’s estimates, the profit the company will make per share for the quarter will be $0.65. HC Wainwright has assigned a “neutral” rating to the stock and has set a price objective of $10.00 for the shares. The current earnings forecast for Zymeworks’ entire fiscal year is $1.22 per share. Additionally, HC Wainwright forecast that Zymeworks’ earnings would be $0.666 per share for the second quarter of 2023, $0.677 per share for the third quarter of 2023, and $0.688 per share for the fourth quarter of 2023.
Several additional equity analysts have provided recent commentary on the stock. The price objective that Citigroup has set for Zymeworks shares has dropped from $27.00 to $21.00, as stated in a research report that was published on Wednesday, September 14th. Stifel Nicolaus lowered their price objective on Zymeworks shares from $21.00 to $18.00 and gave the company a “buy” rating in a research report published on Monday, October 24th. Zymeworks was downgraded by SVB Leerink from “outperform” to “market perform” in a research report published on Friday, October 21st. Additionally, the price objective for Zymeworks was decreased from $19.00 to $8.00. Finally, Wells Fargo & Company lowered their price target on Zymeworks from $45.00 to $9.00 and granted the company an “overweight” rating in a report released on Tuesday, October 4th. Two analysts recommend holding onto the stock, while six experts recommend purchasing it. According to data provided by Bloomberg, the stock is currently rated as having a consensus of “Moderate Buy,” with a price target of $15.25.
The price of ZYME stock was $7.76 when the market opened on Wednesday. The price of the company’s stock has been hovering around $6.46 over the past fifty days, while it has been trading around $6.23 over the past 200 days. Zymeworks’ stock price has ranged from $4.11 to $21.44 during the past year, with a current price of $21.44. The stock carries a price-to-earnings ratio of -2.03, and its beta value is 1.12, giving it a market capitalization of $488.88 million.

On Tuesday, November 8th, Zymeworks (NYSE: ZYME) announced their earnings to the public. The company announced profits per share for the quarter at $0.72, which is $0.22 better than the average estimate of $0.94 for earnings per share, which the company recorded at $0.72. Zymeworks had a return on equity of 89.24% and a negative net margin of 751.0%. The revenue for the quarter was $2.63 million, far lower than the $4.74 million analysts had anticipated.

Several hedge funds and other institutional investors completed recent stock purchases and sales transactions. The percentage of Zymeworks stock owned by State Street Corporation after the third quarter increased by 92.6%. Following the purchase of an additional 47,785 shares during the previous quarter, State Street Corp now owns 99,363 shares of the company’s stock, valued at $611,000.Thrivent Financial for Lutherans spent roughly $93,000 acquiring a new position at Zymeworks during the third quarter of the fiscal year. Trexquant Investment LP raised its ownership in Zymeworks by 70.2% during the third quarter of this fiscal year. Following acquiring an additional 38,714 shares during the most recent quarter, Trexquant Investment LP now holds a total of 93,824 shares of the company’s stock, valued at $577,000. In addition, Zymeworks was the beneficiary of a 6.5% increase in Perceptive Advisors LLC’s shareholding during the third quarter. Perceptive Advisors LLC now has 4,400,099 shares of the company’s stock, valued at $27,060,000 following the acquisition of an additional 267,565 shares during the most recent quarter.
Last but not least, during the third quarter, Platinum Investment Management Ltd. boosted the percentage of Zymeworks, holding 26.6%. After purchasing an additional 78,506 shares during the most recent quarter, Platinum Investment Management Ltd. now possesses 373,992 shares of the company’s stock, equivalent to $2,300,000. The company’s stock is owned by institutional investors and hedge funds to 92.45% of the total.

Zymeworks, Inc. is a clinical-stage biopharmaceutical business that researches, develops, and markets biotherapies for cancer treatment. Zanidatamab is one of the company’s lead product candidates. It is a novel bispecific antibody currently in clinical trials for treating cancers of the biliary tract, gastroesophageal adenocarcinomas, and breast and colorectal cancer. In addition, ZW49 is a biparatopic anti-human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate currently in clinical trials for treating advanced or metastatic HER2-positive cancer.

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