Zymeworks (NASDAQ:ZYME) Releases Earnings Results, Beats Estimates By $0.04 EPS

Zymeworks (NASDAQ:ZYME) issued its quarterly earnings data on Thursday. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.04, Zacks reports. Zymeworks had a negative return on equity of 21.59% and a negative net margin of 59.96%.The firm had revenue of $27.61 million during the quarter, compared to the consensus estimate of $28.27 million.

Zymeworks Stock Down 5.4%

NASDAQ ZYME traded down $0.97 during trading hours on Friday, hitting $16.93. 558,780 shares of the company’s stock were exchanged, compared to its average volume of 573,872. The stock has a 50 day simple moving average of $16.92. Zymeworks has a 12-month low of $9.03 and a 12-month high of $19.98. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -17.45 and a beta of 1.48.

Wall Street Analyst Weigh In

ZYME has been the subject of several recent research reports. Wall Street Zen downgraded Zymeworks from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 19th. Wells Fargo & Company raised Zymeworks to a “hold” rating in a research note on Friday, October 24th. HC Wainwright raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. B. Riley upgraded shares of Zymeworks to a “strong-buy” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zymeworks in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Zymeworks presently has a consensus rating of “Buy”.

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 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.