Andrew Berens, an analyst from Leerink Partners, maintained the Hold rating on Zymeworks (ZYME – Research Report). The associated price target is $9.00.
Andrew Berens has given his Hold rating due to a combination of factors related to Zymeworks’ recent activities and financial status. The company disclosed a new preclinical candidate ZW251, which targets a type of liver cancer and is expected to enter IND stage in the second half of 2025. Additionally, the company is gearing up to launch a Phase 2 study for another drug, ZW-49, by the end of 2023. However, the licensing agreement for this drug in Asia-Pacific region has been terminated, causing ZYME to regain rights in these territories but also leading to a loss of approximately $195 million in future development and commercial milestones.
Furthermore, Zymeworks’ top-line results for the HERIZON-GEA-01 trial are due in 2024. This trial is evaluating a triple regimen drug that has shown promising results in Phase 1b/2 data. The company’s early pipeline assets ZW191 and ZW171 are on track for IND submissions and Phase 1 initiations in 2024, while ZW220 is anticipated to reach the same stage in the first half of 2025. Lastly, the company reported having $390.2 million in cash, which is expected to sustain operations till the end of 2026 or beyond, a solid factor in Berens’ Hold rating.
Berens covers the Healthcare sector, focusing on stocks such as Seagen, AstraZeneca, and Mirati Therapeutics. According to TipRanks, Berens has an average return of -3.9% and a 41.72% success rate on recommended stocks.
See the top stocks recommended by analysts >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
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.
Read More on ZYME:
- Zymeworks reports Q3 EPS (41c), consensus (47c)
- Zymeworks Provides Corporate Update and Reports Third Quarter 2023 Financial Results
- Zymeworks Announces Participation in Upcoming Investor Conferences
- Zymeworks To Host Third Quarter 2023 Results Conference Call
- Zymeworks Announces New Director Nominee
