Analysts forecast that Zymeworks Inc (NYSE:ZYME) will report sales of $7.77 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Zymeworks’ earnings. The lowest sales estimate is $7.50 million and the highest is $8.03 million. Zymeworks reported sales of $2.05 million in the same quarter last year, which indicates a positive year over year growth rate of 279%. The company is scheduled to announce its next quarterly earnings report on Tuesday, November 5th.
On average, analysts expect that Zymeworks will report full-year sales of $24.73 million for the current financial year, with estimates ranging from $12.00 million to $33.58 million. For the next fiscal year, analysts expect that the company will report sales of $43.65 million, with estimates ranging from $33.00 million to $59.59 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Zymeworks.
Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Friday, August 2nd. The company reported ($0.89) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.83) by ($0.06). Zymeworks had a negative net margin of 102.78% and a negative return on equity of 24.44%. The company had revenue of $7.88 million for the quarter, compared to the consensus estimate of $7.25 million.
Several equities analysts have recently weighed in on the company. Zacks Investment Research raised Zymeworks from a “sell” rating to a “hold” rating in a report on Saturday, August 31st. Citigroup raised their price target on Zymeworks from $22.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Deutsche Bank began coverage on Zymeworks in a report on Thursday, July 18th. They issued a “buy” rating and a $34.00 price objective for the company. ValuEngine cut Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Finally, Barclays increased their target price on Zymeworks from $15.00 to $23.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $34.75.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZYME. Camber Capital Management LP grew its position in shares of Zymeworks by 20.0% during the 2nd quarter. Camber Capital Management LP now owns 2,600,000 shares of the company’s stock valued at $57,200,000 after acquiring an additional 434,000 shares during the period. FMR LLC raised its holdings in Zymeworks by 331.4% in the 1st quarter. FMR LLC now owns 2,401,897 shares of the company’s stock worth $38,863,000 after purchasing an additional 1,845,142 shares during the period. Perceptive Advisors LLC raised its holdings in Zymeworks by 312.8% in the 2nd quarter. Perceptive Advisors LLC now owns 2,368,890 shares of the company’s stock worth $52,115,000 after purchasing an additional 1,795,000 shares during the period. Farallon Capital Management LLC lifted its position in Zymeworks by 11.5% during the second quarter. Farallon Capital Management LLC now owns 1,756,470 shares of the company’s stock valued at $38,642,000 after purchasing an additional 181,470 shares in the last quarter. Finally, Vivo Capital LLC lifted its position in Zymeworks by 134.4% during the second quarter. Vivo Capital LLC now owns 1,453,467 shares of the company’s stock valued at $31,976,000 after purchasing an additional 833,333 shares in the last quarter. Institutional investors and hedge funds own 49.95% of the company’s stock.
NYSE:ZYME traded down $1.90 during trading hours on Friday, reaching $26.98. The company had a trading volume of 507,554 shares, compared to its average volume of 205,173. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -21.41 and a beta of 1.36. The company has a current ratio of 9.07, a quick ratio of 9.07 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average price is $25.22 and its 200-day moving average price is $20.12. Zymeworks has a 52 week low of $10.72 and a 52 week high of $29.75.
Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.
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