Zymeworks Inc. (NYSE:ZYME) – Equities research analysts at SVB Leerink decreased their FY2022 earnings estimates for Zymeworks in a research note issued on Tuesday, January 12th. SVB Leerink analyst A. Berens now forecasts that the company will post earnings per share of ($5.21) for the year, down from their previous estimate of ($4.60). SVB Leerink currently has a “Outperform” rating and a $66.00 price objective on the stock. SVB Leerink also issued estimates for Zymeworks’ FY2023 earnings at ($6.53) EPS and FY2024 earnings at ($6.78) EPS.
A number of other research firms also recently commented on ZYME. Wells Fargo & Company increased their price objective on Zymeworks from $58.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday. Zacks Investment Research downgraded Zymeworks from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Raymond James set a $60.00 target price on Zymeworks and gave the company a “strong-buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. began coverage on Zymeworks in a research report on Tuesday, September 29th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $56.30.
Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.54). Zymeworks had a negative net margin of 569.13% and a negative return on equity of 44.06%. The business had revenue of $2.64 million during the quarter, compared to analysts’ expectations of $12.13 million.
In other Zymeworks news, insider Diana Hausman sold 701 shares of the stock in a transaction that occurred on Wednesday, December 2nd. The stock was sold at an average price of $55.01, for a total transaction of $38,562.01. Following the completion of the sale, the insider now directly owns 7,840 shares of the company’s stock, valued at approximately $431,278.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Neil A. Klompas sold 25,000 shares of the stock in a transaction that occurred on Wednesday, December 9th. The stock was sold at an average price of $53.25, for a total value of $1,331,250.00. Following the sale, the chief financial officer now directly owns 17,502 shares of the company’s stock, valued at $931,981.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,083 shares of company stock valued at $1,886,672 over the last ninety days. 4.20% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC lifted its holdings in shares of Zymeworks by 22.9% in the 3rd quarter. Perceptive Advisors LLC now owns 4,400,999 shares of the company’s stock valued at $204,999,000 after buying an additional 820,000 shares during the period. FMR LLC lifted 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. UBS Asset Management Americas Inc. lifted its holdings in shares of Zymeworks by 56.8% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 641,373 shares of the company’s stock valued at $29,875,000 after buying an additional 232,255 shares during the period. Candriam Luxembourg S.C.A. lifted its holdings in shares of Zymeworks by 80.6% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 622,060 shares of the company’s stock valued at $28,974,000 after buying an additional 277,576 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of Zymeworks by 12.7% in the 2nd quarter. Two Sigma Advisers LP now owns 534,300 shares of the company’s stock valued at $19,272,000 after buying an additional 60,100 shares during the period. 75.11% of the stock is owned by institutional investors and hedge funds.
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. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I and Phase II clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, breast, and other tumors; and ZW49, a bispecific antibody-drug conjugate that is in Phase I clinical trial for the treatment of advanced or metastatic HER2-expressing cancers.
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