Zymeworks Inc Down 2.45% To $11.93 After Earnings Beat

Thursday, March 7, 2024 - Zymeworks Inc (ZYME) reported upside earnings and revenues today.

Zymeworks Inc's earnings came in at an EPS loss of $0.16 per share, 63.00% higher than estimates for an EPS loss of $0.43 per share. The firm's earnings are down 103% since reporting $4.71 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $16.9 million. That represents a 95.79% decrease in revenues from the year-ago report and is 9.55% higher than consensus estimates set at $15.5 million.

The stock is down 2.45% to $11.93 after the report.

Zymeworks Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Zymeworks Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 89, putting Zymeworks Inc in the top 25% of stocks. The firm was recently trading at a 52-week high of $13.14 on February 27, 2024 and set a 52-week low on October 4, 2023 at $6.02.

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. Its suite of therapeutic platforms and its fully integrated drug development engine enable precise engineering of differentiated product candidates. Its lead clinical candidate, zanidatamab, is a novel Azymetric HER2-targeted bispecific antibody currently being evaluated in multiple Phase 1, Phase 2, and pivotal clinical trials globally as a targeted treatment option for patients with solid tumors that express HER2. The company is also advancing a deep preclinical pipeline in oncology and other therapeutic areas.