Zymeworks (NYSE:ZYME) Issues Earnings Results, Beats Estimates By $0.01 EPS

Zymeworks (NYSE:ZYME) announced its quarterly earnings results on Thursday. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01, Briefing.com reports. Zymeworks had a negative net margin of 179.42% and a negative return on equity of 21.97%. The company had revenue of $16.00 million for the quarter, compared to analyst estimates of $17.90 million. During the same quarter in the prior year, the business posted ($0.41) EPS. Zymeworks’s quarterly revenue was down 3.1% on a year-over-year basis.

Zymeworks Trading Down 3.1 %

NYSE:ZYME traded down $0.42 during mid-day trading on Friday, hitting $13.28. 1,211,125 shares of the company’s stock traded hands, compared to its average volume of 625,201. The firm has a 50 day moving average of $12.55 and a two-hundred day moving average of $10.42. The firm has a market capitalization of $943.54 million, a price-to-earnings ratio of -8.74 and a beta of 1.20. Zymeworks has a 12 month low of $6.83 and a 12 month high of $14.05.

Analysts Set New Price Targets

A number of analysts have weighed in on ZYME shares. HC Wainwright reaffirmed a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a research report on Friday. Stifel Nicolaus upped their target price on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company cut shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price objective for the company. in a research note on Friday.

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.