In a report released on November 21, David Martin PhD from Bloom Burton maintained a Buy rating on Zymeworks (ZYME – Research Report), with a price target of $19.50.
David Martin PhD has given his Buy rating due to a combination of factors influencing Zymeworks’ potential for growth. The recent accelerated approval by the FDA for zanidatamab, a treatment for HER2-positive biliary tract cancer, marks a significant milestone for the company. This approval allows Zymeworks to address a niche market with a rare cancer type, thereby potentially capitalizing on a first-mover advantage.
The ongoing Phase 3 confirmatory trial, HERIZON-BTC-302, which evaluates zanidatamab in combination with standard-of-care therapy, further supports the potential expansion of zanidatamab’s market reach. This trial aims to establish zanidatamab as a standard treatment option, which could lead to increased sales. David Martin PhD anticipates that these developments will drive peak global annual sales of zanidatamab to $55 million, reinforcing the Buy rating for Zymeworks’ stock.
In another report released on November 21, Leerink Partners also maintained a Buy rating on the stock with a $26.00 price target.
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Zymeworks (ZYME) Company Description:
Zymeworks, Inc. is a clinical-stage biopharmaceutical company, which engages in the discovery, development and commercialization of biotherapeutics. Its product, ZW25 and ZW49 are a bispecific antibody that cans two non-overlapping epitopes. The company was founded by Anthony Fejes, J. Haig deB Farris, Nick Bedford, Ali Tehrani, and Andrew S. Wright on September 8, 2003 and is headquartered in Vancouver, Canada.
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