Financial Results and Stock Performance
Zymeworks (NASDAQ:ZYME) has announced its latest quarterly financial results, showcasing a significant turnaround. The biotech firm posted an earnings per share (EPS) of $0.03, far exceeding analysts' forecasts of a $0.52 loss by $0.55. Revenue for the quarter reached $48.73 million, markedly higher than the anticipated $13.66 million. Following these results, Wall Street Zen upgraded Zymeworks' stock rating from "hold" to "buy" on July 25th.
Stock Trading Details
Despite a challenging history, the company's stock traded at $12.02 on Friday, down $0.14 from previous trading. The trading volume was approximately 872,724 shares, above its average of 424,412. The stock's 12-month range spans from a low of $9.03 to a high of $17.70, with a market capitalization of around $837.55 million. The P/E ratio stands at -12.39, and the beta is 1.26, indicating moderate volatility.
Company Overview and Key Candidates
Zymeworks, a clinical-stage biopharmaceutical enterprise, specializes in developing targeted cancer therapies. Its key candidates include zanidatamab—currently in Phase 1 and 2 trials for biliary tract, g...