Zymeworks (NYSE:ZYME) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Zymeworks (NYSE:ZYME) released its quarterly earnings results on Thursday. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01, Briefing.com reports. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. The business had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. During the same period in the previous year, the business posted ($0.41) earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year.

Zymeworks Trading Down 3.1 %

Shares of ZYME stock traded down $0.42 on Friday, hitting $13.28. The stock had a trading volume of 1,211,665 shares, compared to its average volume of 625,201. The firm has a market cap of $943.54 million, a P/E ratio of -8.74 and a beta of 1.20. Zymeworks has a twelve month low of $6.83 and a twelve month high of $14.05. The company has a fifty day moving average price of $12.55 and a two-hundred day moving average price of $10.42.

Analyst Ratings Changes

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

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.