# Zymeworks Inc. (ZYME)

> Source: Nexqual · https://nexqual.com/ZYME · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Zymeworks Inc. (ZYME), nexqual.com/ZYME" · informational, not investment advice.

**Price:** USD 25.75 (+3.96% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 24.77 · day 25.18–26.21 · 52w 16–31.34 · market cap $1.85B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $37.1M, net income -$150M (-404.0% margin), free cash flow -$121M (SEC filings).
- Analysts: Buy (mean 1.86 on a 1–5 scale) (14 analysts), mean target USD 41.21 (range 32–60).
- Total return with dividends: 1Y +38.8% vs S&P 500 +18.1%; 5Y -0.7% vs S&P 500 +85.1%.
- Next earnings: 2026-11-09, EPS estimate USD 2.15, revenue estimate $218M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $26.7M | $412M | $76.0M | $76.3M | $106M | $37.1M |
| Operating income | -$216M | $131M | -$138M | -$137M | -$92.5M | -$156M |
| Net income | -$212M | $124M | -$119M | -$123M | -$81.1M | -$150M |
| EPS (diluted) | -$4.61 | $1.90 | -$1.72 | -$1.62 | -$1.08 | — |
| Free cash flow | -$205M | $136M | -$121M | -$112M | -$34.5M | -$121M |
| Operating margin | -808.2% | 31.6% | -181.6% | -179.7% | -87.3% | -419.0% |
| Net margin | -794.0% | 30.1% | -156.1% | -160.8% | -76.6% | -404.0% |
| Revenue growth | -31.5% | +1446.0% | -81.6% | +0.4% | +38.9% | — |
| Cash + short-term investments | $253M | $492M | $374M | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 49.8x · P/B 23.0x · FCF yield -6.52% · Earnings yield -8.12% · Buyback yield (TTM) 9.19%

## Analysts
Consensus Buy (mean 1.86 on a 1–5 scale), 14 analysts; mean target USD 41.21 (low 32, high 60).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-07 | Truist Securities | Target raised | Buy | $32 → $34 |
| 2026-09-29 | Citigroup | Target raised | Buy | $38 → $39 |
| 2026-09-17 | Wolfe Research | Initiated | Outperform |  |
| 2026-09-03 | JP Morgan | Target raised | Overweight | $31 → $33 |
| 2026-08-26 | Citigroup | Target raised | Buy | $37 → $38 |
| 2026-08-26 | Citizens | Reiterated | Market Outperform | $32 |
| 2026-08-26 | HC Wainwright & Co. | Target raised | Buy | $51 → $55 |
| 2026-08-10 | B. Riley Securities | Target raised | Buy | $40 → $44 |
| 2026-08-07 | Wells Fargo | Target raised | Overweight | $37 → $40 |
| 2026-08-07 | Truist Securities | Target raised | Buy | $31 → $32 |
| 2026-08-05 | HC Wainwright & Co. | Target raised | Buy | $46 → $51 |
| 2026-07-07 | Truist Securities | Target raised | Buy | $28 → $31 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | +38.8% | -0.7% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | +39.0% | -0.1% |
| Volatility (annualized) | 52.5% | 58.5% |
| Max drawdown | -23.6% (Apr 2026→Aug 2026) | -81.2% (Oct 2021→Apr 2022) |

## Peers (Biotechnology)
RYTM (Rhythm Pharmaceuticals, Inc.) USD 87.97 +1.57% · BLTE (Belite Bio, Inc) USD 152.62 +0.49% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.72 +1.52% · PRAX (Praxis Precision Medicines, Inc) USD 248.24 +2.01% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.12 +4.11% · SYRE (Spyre Therapeutics, Inc.) USD 80.1 -0.44%

## More
Full page: https://nexqual.com/ZYME · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt