Zymeworks Inc (NYSE:ZYME) Expected to Post Quarterly Sales of $3.58 Million

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Wall Street brokerages forecast that Zymeworks Inc (NYSE:ZYME) will announce sales of $3.58 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Zymeworks’ earnings, with estimates ranging from $1.40 million to $5.75 million. Zymeworks posted sales of $28.93 million in the same quarter last year, which suggests a negative year over year growth rate of 87.6%. The business is expected to report its next earnings results on Wednesday, March 4th.

On average, analysts expect that Zymeworks will report full-year sales of $29.36 million for the current financial year, with estimates ranging from $26.66 million to $33.42 million. For the next financial year, analysts expect that the firm will post sales of $43.65 million, with estimates ranging from $33.00 million to $59.59 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Zymeworks.

Zymeworks (NYSE:ZYME) last issued its earnings results on Tuesday, November 5th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.06. The company had revenue of $7.86 million for the quarter, compared to analyst estimates of $7.77 million. Zymeworks had a negative net margin of 112.95% and a negative return on equity of 25.72%.

Several research analysts have recently issued reports on ZYME shares. Citigroup lifted their price target on Zymeworks from $22.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Raymond James set a $40.00 price target on Zymeworks and gave the stock a “strong-buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus started coverage on Zymeworks in a research note on Friday, August 30th. They set a “buy” rating and a $45.00 price target for the company. Zacks Investment Research downgraded Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, ValuEngine downgraded Zymeworks from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Zymeworks currently has a consensus rating of “Buy” and an average price target of $37.00.

Hedge funds have recently made changes to their positions in the stock. Truvestments Capital LLC raised its stake in Zymeworks by 100.0% in the 3rd quarter. Truvestments Capital LLC now owns 1,000 shares of the company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. BlackRock Inc. raised its stake in Zymeworks by 42.3% in the 2nd quarter. BlackRock Inc. now owns 1,679 shares of the company’s stock valued at $37,000 after purchasing an additional 499 shares during the last quarter. Advisor Group Inc. raised its stake in Zymeworks by 42.7% in the 2nd quarter. Advisor Group Inc. now owns 1,806 shares of the company’s stock valued at $40,000 after purchasing an additional 540 shares during the last quarter. Cutler Group LP raised its stake in Zymeworks by 1,050.0% in the 3rd quarter. Cutler Group LP now owns 2,300 shares of the company’s stock valued at $57,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Zymeworks by 22.7% in the 2nd quarter. Bank of Montreal Can now owns 7,310 shares of the company’s stock valued at $161,000 after purchasing an additional 1,350 shares during the last quarter. 49.70% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE ZYME traded up $0.16 during trading on Thursday, hitting $36.14. 173,424 shares of the company were exchanged, compared to its average volume of 307,138. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -28.68 and a beta of 1.44. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.81 and a quick ratio of 6.81. Zymeworks has a 1 year low of $10.72 and a 1 year high of $36.89. The firm’s fifty day moving average price is $30.19 and its 200 day moving average price is $24.54.

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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