Shares of Zymeworks Inc. (ZYME) plunged 6.91% on November 1, 2024, after the biopharmaceutical company received a downgrade from Wells Fargo and reported mixed results for its latest quarterly earnings.
Wells Fargo analysts downgraded their rating on Zymeworks from Overweight to Equalweight, setting a new price target of $12 per share, down from their previous target. The downgrade came as a surprise to investors and contributed to the significant selloff in ZYME stock.
Additionally, Zymeworks reported its earnings for the quarter ended January 1, 2024. While the company's revenue of $16 million slightly exceeded analyst expectations of $15.3 million, it reported an adjusted loss per share of $0.39, higher than the expected loss of $0.40 per share. The mixed results further weighed on investor sentiment, compounding the negative impact of the Wells Fargo downgrade.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。