We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Zymeworks Inc. (ZYME) Surges 23.2%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Zymeworks Inc. (ZYME - Free Report) shares rallied 23.2% in the last trading session to close at $6.11. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 24.3% loss over the past four weeks.
Last month, the company announced that it has completed enrollment in the pivotal HERIZON-BTC-01 study, evaluating the antitumor activity of lead candidate, zanidatamab monotherapy in patients with previously treated advanced/metastatic HER2-amplified biliary tract cancers, including gallbladder cancer and cholangiocarcinoma. Efficacy and safety data from the same are expected in early 2023. This might have been driving the share price rally.
This company is expected to post quarterly loss of $0.97 per share in its upcoming report, which represents a year-over-year change of -11.5%. Revenues are expected to be $3.76 million, up 487.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Zymeworks Inc., the consensus EPS estimate for the quarter has been revised 16.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ZYME going forward to see if this recent jump can turn into more strength down the road.
Zymeworks Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Acadia Pharmaceuticals (ACAD - Free Report) , finished the last trading session 2.7% lower at $18.44. ACAD has returned -21.7% over the past month.
Acadia's consensus EPS estimate for the upcoming report has changed +7.3% over the past month to -$0.49. Compared to the company's year-ago EPS, this represents a change of -16.7%. Acadia currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Zymeworks Inc. (ZYME) Surges 23.2%: Is This an Indication of Further Gains?
Zymeworks Inc. (ZYME - Free Report) shares rallied 23.2% in the last trading session to close at $6.11. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 24.3% loss over the past four weeks.
Last month, the company announced that it has completed enrollment in the pivotal HERIZON-BTC-01 study, evaluating the antitumor activity of lead candidate, zanidatamab monotherapy in patients with previously treated advanced/metastatic HER2-amplified biliary tract cancers, including gallbladder cancer and cholangiocarcinoma. Efficacy and safety data from the same are expected in early 2023. This might have been driving the share price rally.
This company is expected to post quarterly loss of $0.97 per share in its upcoming report, which represents a year-over-year change of -11.5%. Revenues are expected to be $3.76 million, up 487.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Zymeworks Inc., the consensus EPS estimate for the quarter has been revised 16.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ZYME going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zymeworks Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Acadia Pharmaceuticals (ACAD - Free Report) , finished the last trading session 2.7% lower at $18.44. ACAD has returned -21.7% over the past month.
Acadia's consensus EPS estimate for the upcoming report has changed +7.3% over the past month to -$0.49. Compared to the company's year-ago EPS, this represents a change of -16.7%. Acadia currently boasts a Zacks Rank of #3 (Hold).