Zymeworks Inc. (NYSE:ZYME) Expected to Post Quarterly Sales of $7.26 Million

Thursday, July 22, 2021 | MarketBeat

Brokerages forecast that Zymeworks Inc. (NYSE:ZYME) will announce $7.26 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Zymeworks' earnings. The lowest sales estimate is $3.00 million and the highest is $12.50 million. Zymeworks posted sales of $12.36 million during the same quarter last year, which suggests a negative year-over-year growth rate of 41.3%. The company is scheduled to report its next quarterly earnings report on Wednesday, August 4th.

On average, analysts expect that Zymeworks will report full year sales of $25.85 million for the current year, with estimates ranging from $4.00 million to $41.14 million. For the next year, analysts forecast that the business will report sales of $200.06 million, with estimates ranging from $30.00 million to $970.00 million. Zacks Investment Research's sales averages are an average based on a survey of sell-side analysts that follow Zymeworks.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Wednesday, May 5th. The company reported ($0.87) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.04) by $0.17. Zymeworks had a negative net margin of 619.31% and a negative return on equity of 45.36%. The firm had revenue of $0.64 million for the quarter, compared to the consensus estimate of $6.89 million.

ZYME has been the topic of a number of analyst reports. Credit Suisse Group initiated coverage on shares of Zymeworks in a research report on Tuesday, March 30th. They issued an "outperform" rating and a $55.00 price objective on the stock. Raymond James set a $74.00 price objective on shares of Zymeworks and gave the stock a "strong-buy" rating in a research report on Thursday, May 6th. Zacks Investment Research downgraded shares of Zymeworks from a "buy" rating to a "hold" rating in a research report on Wednesday, July 14th. Finally, HC Wainwright dropped their target price on shares of Zymeworks from $57.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, May 7th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of "Buy" and an average price target of $51.63.

In other news, CEO Ali Tehrani sold 12,669 shares of the company's stock in a transaction on Monday, July 12th. The shares were sold at an average price of $36.12, for a total value of $457,604.28. Following the sale, the chief executive officer now directly owns 272,994 shares of the company's stock, valued at approximately $9,860,543.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.14% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in ZYME. FMR LLC lifted its stake in shares of Zymeworks by 331.4% in the 1st quarter. FMR LLC now owns 2,401,897 shares of the company's stock valued at $38,863,000 after purchasing an additional 1,845,142 shares during the period. Armistice Capital LLC lifted its stake in shares of Zymeworks by 266.7% in the 1st quarter. Armistice Capital LLC now owns 1,650,000 shares of the company's stock valued at $52,107,000 after purchasing an additional 1,200,000 shares during the period. Morgan Stanley lifted its stake in shares of Zymeworks by 292.1% in the 4th quarter. Morgan Stanley now owns 1,543,645 shares of the company's stock valued at $72,952,000 after purchasing an additional 1,149,999 shares during the period. Lone Pine Capital LLC acquired a new position in shares of Zymeworks in the 4th quarter valued at $46,160,000. Finally, Cormorant Asset Management LP lifted its stake in shares of Zymeworks by 66.7% in the 1st quarter. Cormorant Asset Management LP now owns 2,000,000 shares of the company's stock valued at $63,160,000 after purchasing an additional 800,000 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of Zymeworks stock opened at $36.96 on Thursday. The stock has a 50 day moving average price of $34.19. Zymeworks has a 52-week low of $24.82 and a 52-week high of $59.03. The stock has a market cap of $1.71 billion, a P/E ratio of -9.70 and a beta of 0.99.

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 novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, and breast cancer; and ZW49, a biparatopic anti- human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.

Further Reading: What is the Current Ratio?

Get a free copy of the Zacks research report on Zymeworks (ZYME)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Zymeworks (NYSE:ZYME)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Zymeworks right now?

Before you consider Zymeworks, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Zymeworks wasn't on the list.

While Zymeworks currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.