Zymeworks (ZYME) to Release Quarterly Earnings on Thursday

Zymeworks (NYSE:ZYME - Get Free Report) will likely be announcing its earnings results after the market closes on Thursday, May 8th. Analysts expect the company to announce earnings of ($0.45) per share and revenue of $20.65 million for the quarter.

Zymeworks Stock Down 8.6 %

Shares of Zymeworks stock traded down $1.11 on Tuesday, hitting $11.74. The stock had a trading volume of 546,665 shares, compared to its average volume of 609,491. The stock has a market cap of $816.83 million, a price-to-earnings ratio of -7.83 and a beta of 1.24. Zymeworks has a twelve month low of $8.21 and a twelve month high of $17.70. The business's 50 day moving average is $11.95 and its two-hundred day moving average is $13.48.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their target price on Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Lifesci Capital initiated coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price objective for the company. Finally, HC Wainwright raised their target price on shares of Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.

Insider Activity at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 468,356 shares of the business's stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $12.48 per share, with a total value of $5,845,082.88. Following the acquisition, the director now owns 16,802,141 shares of the company's stock, valued at $209,690,719.68. This represents a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 1,350,347 shares of company stock worth $16,137,499 in the last quarter. 1.92% of the stock is owned by insiders.

About Zymeworks

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 human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.