Zymeworks Inc. (ZYME) AI Stock Analysis

Zymeworks Inc. is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of biotherapeutics aimed at combating cancer. Its lead product candidate is zanidatamab, a bispecific antibody undergoing Phase 1 and Phase 2 clinical trials across cancers including biliary tract, gastroesophageal adenocarcinomas, breast, and colorectal cancer. The company is also advancing ZW49, a biparatopic anti-HER2 antibody-drug conjugate in Phase 1 trials for advanced or metastatic tumors expressing HER2. In addition, Zymeworks maintains preclinical immuno-oncology discovery programs and strategic research collaborations with pharmaceutical partners including Merck Sharp & Dohme, Eli Lilly, Bristol-Myers Squibb, and GlaxoSmithKline.

Zymeworks generated revenue of $26.7M in FY2021, which rose to $412.5M in FY2022 before dropping to $76.0M in FY2023 and $76.3M in FY2024. Revenue increased 38.9% to $106.0M in FY2025, reflecting a 5-year revenue CAGR of 22.2% from FY2020 to FY2025. Profitability has fluctuated, with net income of $124.3M and an operating margin of 31.6% in FY2022 shifting to a net loss of -$81.1M and an operating margin of -87.3% in FY2025. In the latest quarter ended June 30, 2026, quarterly revenue fell 90.6% year-over-year, bringing trailing twelve-month revenue to $37.1M with an operating margin of -919.0%.

As of June 30, 2026, Zymeworks held cash and short-term investments of $270.7M against total debt of $268.6M, leaving net cash of $2.1M. Total assets stood at $397.0M and shareholders' equity was $80.4M, with a current ratio of 6.32 and a debt-to-equity ratio of 3.34. In FY2025, operating cash flow was -$33.0M and free cash flow was -$34.5M. Capital expenditures were $1.5M, while share buybacks totaled $41.7M.

At a last close of $25.03 on October 16, 2026, Zymeworks had a market cap of $1.80B and an enterprise value of $1.71B. The stock traded at a forward P/E of 20.8x, compared to the median of 17.3x for its US-listed Healthcare peers. Its price-to-sales ratio stood at 48.4x, above the peer median of 4.1x, while its EV-to-EBITDA ratio was 0.3x versus the peer median of 12.0x. Over the past year, ZYME returned 34.9%, outperforming the S&P 500 return of 16.8%, though its 5-year return of -3.5% trailed the S&P 500 return of 83.0%.

Wall Street coverage includes 12 Strong Buy and 2 Buy ratings, with zero Hold, Sell, or Strong Sell ratings. The mean price target is $41.21, representing 64.7% upside relative to the last close of $25.03. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $289.5M and EPS of $0.94, representing EPS growth of 186.9%. Over the last 4 quarters, Zymeworks recorded 1 EPS beat. The company's next earnings date is November 5, 2026.

This page is an AI-written research summary of Zymeworks Inc. (ZYME). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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