Q2 2019 EPS Estimates for Zymeworks Inc Lifted by Analyst (NYSE:ZYME)

Zymeworks Inc (NYSE:ZYME) – Research analysts at Cormark raised their Q2 2019 earnings estimates for Zymeworks in a report released on Monday, June 24th, according to Zacks Investment Research. Cormark analyst T. Gonsalves now anticipates that the company will post earnings of ($0.58) per share for the quarter, up from their previous forecast of ($0.68). Cormark also issued estimates for Zymeworks’ Q3 2019 earnings at ($0.64) EPS, Q4 2019 earnings at ($0.66) EPS, FY2019 earnings at ($2.31) EPS, Q1 2020 earnings at ($0.77) EPS, Q2 2020 earnings at ($0.77) EPS, Q3 2020 earnings at ($0.77) EPS, Q4 2020 earnings at ($0.77) EPS and FY2020 earnings at ($3.07) EPS.

Several other equities analysts have also weighed in on the stock. Raymond James reaffirmed an “outperform” rating and set a $15.00 target price (down from $20.00) on shares of SM Energy in a report on Thursday. Canaccord Genuity set a $23.00 price objective on shares of Zymeworks and gave the company a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research lowered shares of Green Plains from a “hold” rating to a “strong sell” rating in a report on Thursday, June 27th. Deutsche Bank set a €133.00 ($154.65) price objective on shares of Deutsche Boerse and gave the company a “buy” rating in a report on Thursday. Finally, ValuEngine lowered shares of Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $30.00.

ZYME stock traded up $0.50 during trading on Wednesday, hitting $24.50. The company had a trading volume of 431,458 shares, compared to its average volume of 198,003. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.76 and a quick ratio of 6.76. Zymeworks has a 52-week low of $10.72 and a 52-week high of $25.71. The firm has a 50 day moving average of $21.62. The stock has a market cap of $940.26 million, a price-to-earnings ratio of -19.44 and a beta of 1.48.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, May 2nd. The company reported ($0.43) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.09. Zymeworks had a negative net margin of 44.67% and a negative return on equity of 16.41%. The business had revenue of $11.93 million for the quarter.

Several large investors have recently bought and sold shares of ZYME. Bank of Montreal Can boosted its position in shares of Zymeworks by 17.9% in the 4th quarter. Bank of Montreal Can now owns 4,380 shares of the company’s stock worth $64,000 after purchasing an additional 665 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Zymeworks in the fourth quarter valued at about $225,000. Granite Investment Partners LLC increased its position in shares of Zymeworks by 87.8% in the first quarter. Granite Investment Partners LLC now owns 27,277 shares of the company’s stock valued at $441,000 after acquiring an additional 12,750 shares during the last quarter. First Republic Investment Management Inc. acquired a new stake in shares of Zymeworks in the first quarter valued at about $548,000. Finally, Marshall Wace LLP acquired a new stake in shares of Zymeworks in the first quarter valued at about $902,000. Institutional investors and hedge funds own 29.15% of the company’s stock.

In other Zymeworks news, CFO Neil A. Klompas sold 8,308 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $19.23, for a total value of $159,762.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is currently owned by company insiders.

About Zymeworks

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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