Zymeworks Inc (NYSE:ZYME) Expected to Post Quarterly Sales of $8.71 Million

Equities research analysts predict that Zymeworks Inc (NYSE:ZYME) will announce $8.71 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Zymeworks’ earnings, with the lowest sales estimate coming in at $6.48 million and the highest estimate coming in at $11.66 million. Zymeworks reported sales of $7.88 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.5%. The firm is expected to report its next quarterly earnings results on Friday, August 7th.

According to Zacks, analysts expect that Zymeworks will report full year sales of $32.76 million for the current financial year, with estimates ranging from $8.00 million to $45.89 million. For the next financial year, analysts expect that the company will post sales of $36.62 million, with estimates ranging from $28.60 million to $54.25 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Zymeworks.

Zymeworks (NYSE:ZYME) last issued its earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.15) by $0.51. Zymeworks had a negative return on equity of 46.17% and a negative net margin of 629.37%. The business had revenue of $8.27 million during the quarter, compared to analysts’ expectations of $7.78 million.

Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Paradigm Capital reissued a “buy” rating and set a $51.00 target price on shares of Zymeworks in a research note on Friday, May 8th. TheStreet downgraded Zymeworks from a “c” rating to a “d+” rating in a report on Thursday, March 26th. ValuEngine upgraded shares of Zymeworks from a “hold” rating to a “buy” rating in a research note on Tuesday, March 3rd. Finally, Citigroup raised their price objective on Zymeworks from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $50.75.

Shares of ZYME traded down $2.54 during midday trading on Monday, reaching $36.02. 369,019 shares of the stock were exchanged, compared to its average volume of 462,866. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.92 and a quick ratio of 6.92. The business’s 50-day moving average price is $36.85 and its 200 day moving average price is $39.69. Zymeworks has a twelve month low of $20.33 and a twelve month high of $52.75. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -9.26 and a beta of 1.16.

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in shares of Zymeworks by 331.4% in the 1st quarter. FMR LLC now owns 2,401,897 shares of the company’s stock valued at $38,863,000 after buying an additional 1,845,142 shares during the period. Victory Capital Management Inc. grew its stake in shares of Zymeworks by 32.4% during the fourth quarter. Victory Capital Management Inc. now owns 259,543 shares of the company’s stock worth $11,799,000 after buying an additional 63,553 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Zymeworks during the fourth quarter worth $6,169,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Zymeworks during the fourth quarter worth $318,000. Finally, TD Asset Management Inc. increased its stake in Zymeworks by 10.8% in the fourth quarter. TD Asset Management Inc. now owns 33,915 shares of the company’s stock valued at $1,542,000 after purchasing an additional 3,300 shares in the last quarter. Institutional investors and hedge funds own 72.00% of the company’s stock.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.

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Earnings History and Estimates for Zymeworks (NYSE:ZYME)

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