Zymeworks (ZYME) to Release Earnings on Thursday

Zymeworks (NYSE:ZYME) 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 Performance

NYSE ZYME opened at $11.74 on Wednesday. The business has a fifty day moving average price of $11.95 and a 200 day moving average price of $13.48. The company has a market cap of $816.83 million, a P/E ratio of -7.83 and a beta of 1.24. Zymeworks has a one year low of $8.21 and a one year high of $17.70.

Analyst Ratings Changes

Several research analysts have commented on the stock. HC Wainwright boosted their price target on shares of Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, March 10th. Lifesci Capital assumed coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Citigroup upped their target price on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Insider Activity

In other news, Director Ecor1 Capital, Llc bought 320,690 shares of Zymeworks stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $11.49 per share, with a total value of $3,684,728.10. Following the completion of the transaction, the director now directly owns 16,040,851 shares in the company, valued at $184,309,377.99. This trade represents a 2.04 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have acquired 1,350,347 shares of company stock worth $16,137,499. 1.92% of the stock is owned by corporate insiders.

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 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.