Zymeworks (NASDAQ:ZYME) Announces Earnings Results

Key Points

• Zymeworks reported a quarterly EPS of $0.03, significantly beating analysts' expectations of ($0.52) by $0.55.
• The company's revenue for the quarter was $48.73 million, exceeding analysts' expectations of $13.66 million.
• Wall Street Zen upgraded Zymeworks' stock rating from "hold" to "buy" on July 25th.

Zymeworks (NASDAQ:ZYME - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.52) by $0.55, Zacks reports. Zymeworks had a negative net margin of 59.96% and a negative return on equity of 21.44%. The business had revenue of $48.73 million for the quarter, compared to analysts' expectations of $13.66 million.

Zymeworks Price Performance

NASDAQ ZYME traded down $0.14 on Friday, reaching $12.02. 872,724 shares of the company's stock traded hands, compared to its average volume of 424,412. Zymeworks has a 12 month low of $9.03 and a 12 month high of $17.70. The stock has a market capitalization of $837.55 million, a P/E ratio of -12.39 and a beta of 1.26.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Zymeworks from a "hold" rating to a "buy" rating in a research report on Friday, July 25th.

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 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.

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