Taking on analysts’ expectations and winning: Zymeworks Inc. (ZYME)

Zymeworks Inc. (NYSE: ZYME) stock fell -2.39% on Tuesday to $7.76 against a previous-day closing price of $7.95. With 0.63 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.98 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $8.03 whereas the lowest price it dropped to was $7.41. The 52-week range on ZYME shows that it touched its highest point at $21.44 and its lowest point at $4.11 during that stretch. It currently has a 1-year price target of $12.14. Beta for the stock currently stands at 1.12.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ZYME was down-trending over the past week, with a drop of -8.60%, but this was up by 29.33% over a month. Three-month performance surged to 11.17% while six-month performance rose 33.56%. The stock lost -61.08% in the past year, while it has lost -52.65% so far this year. A look at the trailing 12-month EPS for ZYME yields -3.63 with Next year EPS estimates of -1.21. For the next quarter, that number is 1.43. This implies an EPS growth rate of -14.70% for this year and 45.70% for next year. EPS is expected to grow by 11.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -24.10%.

Float and Shares Shorts:

At present, 66.48 million ZYME shares are outstanding with a float of 54.47 million shares on hand for trading. On Oct 13, 2022, short shares totaled 12.27 million, which was 19.88% higher than short shares on Sep 14, 2022. In addition to Mr. Neil A. Klompas C.A., CPA, CA, CPA as the firm’s Pres & COO, Dr. Ali Tehrani Ph.D. serves as its Advisor.

Institutional Ownership:

Through their ownership of 83.23% of ZYME’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 67.72% of ZYME, in contrast to 23.28% held by mutual funds. Shares owned by individuals account for 0.02%. As the largest shareholder in ZYME with 12.02% of the stake, Ecor1 Capital LLC holds 7,568,573 shares worth 7,568,573. A second-largest stockholder of ZYME, Redmile Group LLC, holds 6,075,918 shares, controlling over 9.65% of the firm’s shares. Armistice Capital LLC is the third largest shareholder in ZYME, holding 5,785,000 shares or 9.18% stake. With a 8.54% stake in ZYME, the Eventide Healthcare & Life Scienc is the largest stakeholder. A total of 5,380,200 shares are owned by the mutual fund manager. The CS Invt. Fds. 2 -, which owns about 3.81% of ZYME stock, is the second-largest Mutual Fund holder. It holds 2,400,000 shares valued at 17.83 million. HBM Healthcare Investments holds 2.93% of the stake in ZYME, owning 1,843,372 shares worth 13.7 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ZYME since 12 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ZYME analysts setting a high price target of $21.00 and a low target of $7.00, the average target price over the next 12 months is $12.31. Based on these targets, ZYME could surge 170.62% to reach the target high and fall by -9.79% to reach the target low. Reaching the average price target will result in a growth of 58.63% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ZYME will report FY 2022 earnings on 03/07/2023. Analysts have provided yearly estimates in a range of $2.97 being high and -$5.13 being low. For ZYME, this leads to a yearly average estimate of -$1.56. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Zymeworks Inc. surprised analysts by $0.20 when it reported -$0.72 EPS against a consensus estimate of -$0.92. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is $5.50 and the low estimate is -$1.11. The average estimate for the next quarter is thus $1.33.

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