Analysts Expect Zymeworks Inc. (NYSE:ZYME) Will Announce Quarterly Sales of $11.10 Million

Equities analysts predict that Zymeworks Inc. (NYSE:ZYME) will announce sales of $11.10 million for the current quarter, Zacks reports. Four analysts have provided estimates for Zymeworks’ earnings, with the highest sales estimate coming in at $16.00 million and the lowest estimate coming in at $7.00 million. Zymeworks posted sales of $7.86 million in the same quarter last year, which would indicate a positive year over year growth rate of 41.2%. The firm is scheduled to report its next quarterly earnings report on Tuesday, November 3rd.

According to Zacks, analysts expect that Zymeworks will report full-year sales of $36.94 million for the current year, with estimates ranging from $21.00 million to $51.63 million. For the next year, analysts anticipate that the firm will report sales of $38.23 million, with estimates ranging from $21.60 million to $54.25 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Zymeworks.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.09. Zymeworks had a negative return on equity of 44.06% and a negative net margin of 569.13%. The firm had revenue of $12.36 million for the quarter, compared to analyst estimates of $8.54 million.

Several equities research analysts have issued reports on the company. Canaccord Genuity lifted their price objective on Zymeworks from $25.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 13th. JPMorgan Chase & Co. initiated coverage on Zymeworks in a report on Tuesday, September 29th. They set a “neutral” rating on the stock. Guggenheim lowered their price target on Zymeworks from $54.00 to $48.00 in a report on Tuesday, July 14th. SVB Leerink initiated coverage on Zymeworks in a report on Thursday, August 6th. They issued an “outperform” rating and a $45.00 price target for the company. Finally, Raymond James set a $60.00 price target on Zymeworks and gave the company a “strong-buy” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $52.75.

ZYME stock traded up $0.93 during midday trading on Tuesday, hitting $45.96. 212,759 shares of the company’s stock were exchanged, compared to its average volume of 449,236. Zymeworks has a 12-month low of $20.33 and a 12-month high of $52.75. The firm has a 50 day moving average price of $40.42 and a 200-day moving average price of $36.22. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -12.19 and a beta of 0.99.

In related news, insider Diana Hausman sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $45.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the insider now owns 13,718 shares in the company, valued at approximately $617,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Perceptive Advisors LLC boosted its position in Zymeworks by 0.6% during the 2nd quarter. Perceptive Advisors LLC now owns 3,580,999 shares of the company’s stock worth $129,166,000 after acquiring an additional 20,000 shares during the period. FIL Ltd boosted its position in Zymeworks by 4.7% during the 2nd quarter. FIL Ltd now owns 3,376,419 shares of the company’s stock worth $121,788,000 after acquiring an additional 151,118 shares during the period. Great Point Partners LLC boosted its position in Zymeworks by 10.8% during the 2nd quarter. Great Point Partners LLC now owns 2,574,688 shares of the company’s stock worth $92,869,000 after acquiring an additional 250,000 shares during the period. FMR LLC boosted its position in Zymeworks by 331.4% during the 1st quarter. FMR LLC now owns 2,401,897 shares of the company’s stock worth $38,863,000 after acquiring an additional 1,845,142 shares during the period. Finally, Vivo Capital LLC acquired a new position in Zymeworks during the 1st quarter worth $39,061,000. Institutional investors own 75.11% of the company’s stock.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I and Phase II clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, breast, and other tumors; and ZW49, a bispecific antibody-drug conjugate that is in Phase I clinical trial for the treatment of advanced or metastatic HER2-expressing cancers.

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Earnings History and Estimates for Zymeworks (NYSE:ZYME)

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