Zymeworks (NASDAQ:ZYME) Rating Increased to Buy at Wall Street Zen

Key Points

• Zymeworks has been upgraded from a "hold" to a "buy" rating by analysts at Wall Street Zen.
• In its latest earnings report, Zymeworks surpassed expectations with an EPS of $0.03, significantly exceeding the consensus estimate of ($0.52).
• The company's lead product candidates include zanidatamab and ZW49, which are currently in various stages of clinical trials for treating cancer.

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

Zymeworks Price Performance

ZYME stock traded up $0.04 during midday trading on Friday, reaching $14.36. 18,461 shares of the company were exchanged, compared to its average volume of 528,618. Zymeworks has a one year low of $9.03 and a one year high of $17.70. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -14.80 and a beta of 1.26.

Zymeworks (NASDAQ:ZYME - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.03 EPS for the quarter, topping 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 analysts' expectations of $13.66 million.

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.