Zymeworks (NASDAQ:ZYME) Issues 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 data on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.55, Zacks reports. The firm had revenue of $48.73 million during the quarter, compared to the consensus estimate of $13.66 million. Zymeworks had a negative return on equity of 21.59% and a negative net margin of 59.96%.

Zymeworks Stock Up 4.1%

Shares of NASDAQ ZYME traded up $0.54 during trading on Wednesday, hitting $13.56. 173,307 shares of the company traded hands, compared to its average volume of 532,828. Zymeworks has a 1 year low of $9.03 and a 1 year high of $17.70. The stock has a market capitalization of $944.90 million, a PE ratio of -13.98 and a beta of 1.26.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Zymeworks from a "buy" rating to a "hold" rating in a report on Saturday.

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.