Zymeworks (NASDAQ:ZYME) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Zymeworks has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen.
• The company's stock price decreased by 1.2%, opening at $12.02 with a market cap of $837.55 million.
• Zymeworks reported earnings of $0.03 EPS, significantly beating analyst estimates, alongside a revenue of $48.73 million for the quarter.

Wall Street Zen lowered shares of Zymeworks (NASDAQ:ZYME - Free Report) from a buy rating to a hold rating in a report released on Saturday morning.

Zymeworks Stock Performance

NASDAQ:ZYME traded up $0.55 during trading hours on Friday, hitting $13.57. 164,583 shares of the stock were exchanged, compared to its average volume of 532,828. Zymeworks has a twelve month low of $9.03 and a twelve month high of $17.70. The company has a market cap of $945.60 million, a price-to-earnings ratio of -13.99 and a beta of 1.26.

Zymeworks (NASDAQ:ZYME - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.55. The company had revenue of $48.73 million for 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 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.