$9.22 Million in Sales Expected for Zymeworks Inc (NYSE:ZYME) This Quarter

Wall Street brokerages expect Zymeworks Inc (NYSE:ZYME) to report sales of $9.22 million for the current quarter, according to Zacks. Four analysts have made estimates for Zymeworks’ earnings. The highest sales estimate is $25.00 million and the lowest is $1.40 million. Zymeworks posted sales of $28.93 million during the same quarter last year, which would indicate a negative year over year growth rate of 68.1%. The company is expected to announce its next quarterly earnings results on Wednesday, March 4th.

On average, analysts expect that Zymeworks will report full-year sales of $34.63 million for the current financial year, with estimates ranging from $26.66 million to $52.67 million. For the next financial year, analysts forecast that the company will report sales of $44.63 million, with estimates ranging from $33.00 million to $77.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Zymeworks.

ZYME has been the subject of a number of research analyst reports. Wells Fargo & Co restated an “overweight” rating and set a $58.00 target price (up from $48.00) on shares of Zymeworks in a report on Wednesday, January 15th. Guggenheim initiated coverage on Zymeworks in a report on Wednesday, November 27th. They set a “buy” rating and a $48.00 target price for the company. Zacks Investment Research upgraded Zymeworks from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Saturday, February 8th. HC Wainwright initiated coverage on Zymeworks in a report on Monday, November 25th. They set a “buy” rating and a $65.00 target price for the company. Finally, Raymond James restated a “buy” rating and set a $60.00 target price on shares of Zymeworks in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $48.75.

In related news, Director Troy Cox bought 7,500 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were acquired at an average price of $46.50 per share, with a total value of $348,750.00. Following the completion of the acquisition, the director now owns 7,500 shares in the company, valued at approximately $348,750. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 4.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ZYME. BlackRock Inc. boosted its stake in shares of Zymeworks by 42.3% in the second quarter. BlackRock Inc. now owns 1,679 shares of the company’s stock valued at $37,000 after buying an additional 499 shares in the last quarter. HWG Holdings LP boosted its stake in shares of Zymeworks by 181.2% in the third quarter. HWG Holdings LP now owns 1,732 shares of the company’s stock valued at $43,000 after buying an additional 1,116 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Zymeworks in the fourth quarter valued at approximately $45,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Zymeworks by 333.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,105 shares of the company’s stock valued at $50,000 after buying an additional 850 shares in the last quarter. Finally, Cutler Group LP boosted its stake in shares of Zymeworks by 1,050.0% in the third quarter. Cutler Group LP now owns 2,300 shares of the company’s stock valued at $57,000 after buying an additional 2,100 shares in the last quarter. 54.92% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE ZYME traded down $0.29 during mid-day trading on Thursday, reaching $47.97. 122,954 shares of the company’s stock were exchanged. The company’s 50-day moving average is $46.19 and its 200-day moving average is $35.29. Zymeworks has a 52-week low of $14.05 and a 52-week high of $52.75.

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 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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