Zymeworks Inc. (NYSE:ZYME) Expected to Announce Quarterly Sales of $7.26 Million

Brokerages expect that Zymeworks Inc. (NYSE:ZYME) will report sales of $7.26 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Zymeworks’ earnings, with the highest sales estimate coming in at $12.50 million and the lowest estimate coming in at $3.00 million. Zymeworks reported sales of $12.36 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 41.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, August 4th.

On average, analysts expect that Zymeworks will report full year sales of $25.85 million for the current fiscal year, with estimates ranging from $4.00 million to $41.14 million. For the next fiscal year, analysts anticipate that the firm will post sales of $200.06 million, with estimates ranging from $30.00 million to $970.00 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Zymeworks.

Zymeworks (NYSE:ZYME) last released its earnings results on Wednesday, May 5th. The company reported ($0.87) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.04) by $0.17. Zymeworks had a negative net margin of 619.31% and a negative return on equity of 45.36%.

A number of brokerages have issued reports on ZYME. Zacks Investment Research downgraded Zymeworks from a “buy” rating to a “hold” rating in a research note on Wednesday, May 5th. SVB Leerink reaffirmed a “market perform” rating and set a $41.00 target price (down from $50.00) on shares of Zymeworks in a research note on Wednesday, March 3rd. Raymond James set a $74.00 price target on shares of Zymeworks and gave the company a “strong-buy” rating in a research note on Thursday, May 6th. HC Wainwright reduced their price target on shares of Zymeworks from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, May 7th. Finally, Credit Suisse Group assumed coverage on Zymeworks in a research report on Tuesday, March 30th. They issued an “outperform” rating and a $55.00 price objective for the company. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $49.50.

In other Zymeworks news, insider Kathryn O’driscoll sold 786 shares of the firm’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $34.72, for a total value of $27,289.92. Following the completion of the transaction, the insider now owns 5,003 shares of the company’s stock, valued at approximately $173,704.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Priour sold 950 shares of the business’s stock in a transaction on Tuesday, April 13th. The stock was sold at an average price of $27.93, for a total transaction of $26,533.50. Following the completion of the transaction, the insider now owns 2,953 shares of the company’s stock, valued at approximately $82,477.29. The disclosure for this sale can be found here. 5.14% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of ZYME. Quantbot Technologies LP purchased a new position in shares of Zymeworks in the 1st quarter valued at about $127,000. Exane Derivatives grew its holdings in Zymeworks by 60.2% during the 1st quarter. Exane Derivatives now owns 5,288 shares of the company’s stock worth $167,000 after acquiring an additional 1,987 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Zymeworks by 10.2% in the 4th quarter. Glenmede Trust Co. NA now owns 4,395 shares of the company’s stock valued at $207,000 after purchasing an additional 405 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Zymeworks during the 4th quarter worth $219,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Zymeworks by 18.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,161 shares of the company’s stock worth $244,000 after purchasing an additional 786 shares in the last quarter. 76.11% of the stock is currently owned by institutional investors.

Shares of Zymeworks stock opened at $37.58 on Friday. The stock’s 50 day moving average is $30.26. The stock has a market capitalization of $1.74 billion, a P/E ratio of -9.86 and a beta of 0.98. Zymeworks has a one year low of $24.82 and a one year high of $59.03.

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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, and breast cancer; and ZW49, a biparatopic anti- human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.

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Earnings History and Estimates for Zymeworks (NYSE:ZYME)

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