Zymeworks Inc (NYSE:ZYME) – Raymond James raised their Q3 2020 earnings estimates for shares of Zymeworks in a research report issued to clients and investors on Wednesday, July 8th. Raymond James analyst D. Novak now forecasts that the company will earn ($0.70) per share for the quarter, up from their prior estimate of ($0.95). Raymond James has a “Strong-Buy” rating and a $60.00 price objective on the stock. Raymond James also issued estimates for Zymeworks’ FY2020 earnings at ($3.23) EPS.

A number of other equities analysts have also issued reports on the company. Paradigm Capital reissued a “buy” rating and set a $51.00 price target on shares of Zymeworks in a report on Friday, May 8th. Citigroup lifted their price objective on Zymeworks from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Bloom Burton reaffirmed a “buy” rating on shares of Zymeworks in a report on Sunday, June 14th. TheStreet lowered Zymeworks from a “c” rating to a “d+” rating in a report on Thursday, March 26th. Finally, HC Wainwright lowered their price objective on Zymeworks from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $49.62.

NYSE ZYME opened at $33.19 on Monday. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 0.01. Zymeworks has a 52-week low of $20.33 and a 52-week high of $52.75. The business’s 50-day moving average price is $36.55 and its 200 day moving average price is $39.02. The firm has a market cap of $1.51 billion, a P/E ratio of -8.53 and a beta of 1.15.

Zymeworks (NYSE:ZYME) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.15) by $0.51. Zymeworks had a negative return on equity of 46.17% and a negative net margin of 629.37%. The firm had revenue of $8.27 million for the quarter, compared to analyst estimates of $7.78 million.

Several hedge funds have recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new position in shares of Zymeworks during the 2nd quarter worth approximately $46,000. Steward Partners Investment Advisory LLC raised its position in shares of Zymeworks by 28.1% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,415 shares of the company’s stock worth $50,000 after purchasing an additional 310 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Zymeworks by 20.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,888 shares of the company’s stock worth $67,000 after purchasing an additional 325 shares during the last quarter. Citigroup Inc. acquired a new position in shares of Zymeworks during the 4th quarter worth approximately $79,000. Finally, Exane Derivatives acquired a new position in shares of Zymeworks during the 2nd quarter worth approximately $97,000. Institutional investors own 71.99% 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 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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Earnings History and Estimates for Zymeworks (NYSE:ZYME)

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