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Zymeworks (ZYME) Soars 5.4%: Is Further Upside Left in the Stock?
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Zymeworks Inc. (ZYME - Free Report) shares soared 5.4% in the last trading session to close at $11.70. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 21.8% loss over the past four weeks.
The sudden rise in the stock price can be attributed to a positive investor mindset regarding the potential of Zymeworks’ early-stage pipeline, comprising two candidates, ZW171 and ZW191, for advanced or metastatic mesothelin-expressing cancers and advanced solid tumors, respectively.
This company is expected to post quarterly loss of $0.43 per share in its upcoming report, which represents a year-over-year change of -2.4%. Revenues are expected to be $18.36 million, up 83.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Zymeworks, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Nurix Therapeutics, Inc. (NRIX - Free Report) , closed the last trading session 2.3% higher at $13.90. Over the past month, NRIX has returned -24.5%.
For Nurix Therapeutics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.72. This represents a change of +5.3% from what the company reported a year ago. Nurix Therapeutics currently has a Zacks Rank of #3 (Hold).
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Zymeworks (ZYME) Soars 5.4%: Is Further Upside Left in the Stock?
Zymeworks Inc. (ZYME - Free Report) shares soared 5.4% in the last trading session to close at $11.70. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 21.8% loss over the past four weeks.
The sudden rise in the stock price can be attributed to a positive investor mindset regarding the potential of Zymeworks’ early-stage pipeline, comprising two candidates, ZW171 and ZW191, for advanced or metastatic mesothelin-expressing cancers and advanced solid tumors, respectively.
This company is expected to post quarterly loss of $0.43 per share in its upcoming report, which represents a year-over-year change of -2.4%. Revenues are expected to be $18.36 million, up 83.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Zymeworks, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Nurix Therapeutics, Inc. (NRIX - Free Report) , closed the last trading session 2.3% higher at $13.90. Over the past month, NRIX has returned -24.5%.
For Nurix Therapeutics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.72. This represents a change of +5.3% from what the company reported a year ago. Nurix Therapeutics currently has a Zacks Rank of #3 (Hold).