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Zymeworks (NASDAQ:ZYME) Downgraded to "Hold" Rating by 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.
  • Looking to Export and Analyze Zymeworks Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Wall Street Zen downgraded shares of Zymeworks (NASDAQ:ZYME - Free Report) from a buy rating to a hold rating in a research note published on Saturday.

Zymeworks Price Performance

Shares of ZYME traded down $0.14 during mid-day trading on Friday, reaching $12.02. 872,724 shares of the stock traded hands, compared to its average volume of 449,887. The firm has a market capitalization of $837.55 million, a P/E ratio of -12.39 and a beta of 1.26. Zymeworks has a 1 year low of $9.03 and a 1 year high of $17.70.

Zymeworks (NASDAQ:ZYME - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.52) by $0.55. Zymeworks had a negative net margin of 59.96% and a negative return on equity of 21.59%. The firm had revenue of $48.73 million during the quarter, compared to analyst estimates of $13.66 million.

About Zymeworks

(Get Free Report)

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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