Robert Burns, an analyst from H.C. Wainwright, reiterated the Hold rating on Zymeworks (ZYME – Research Report). The associated price target is $8.00.
Geoff Meacham has given his Hold rating due to a combination of factors related to Zymeworks’ upcoming catalysts and clinical trial data. The company has several significant events on the horizon, including regulatory submissions, the initiation of new studies, and data releases for clinical trials, notably the Phase 3 HERIZON-GEA-01 trial expected in 2024. However, these events are set in the future, suggesting a period of wait-and-see for investors as the outcomes of these catalysts are yet to materialize.
Furthermore, the comparison of zanidatamab’s trial results with existing treatments indicates promising efficacy, particularly when benchmarked against the KEYNOTE-811 study results. Zanidatamab, in combination with chemotherapy and tisletizumab, has shown a high objective response rate and median duration of response, which bodes well for its ongoing trials. Despite these positive results, the Hold rating likely reflects the need for further data to solidify Zymeworks’ market position and the necessity for upcoming trial results to support long-term efficacy and safety, which are essential for the stock’s future performance.
According to TipRanks, Burns is an analyst with an average return of -30.9% and a 23.40% success rate. Burns covers the Healthcare sector, focusing on stocks such as BioNTech SE, Black Diamond Therapeutics, and Repare Therapeutics.
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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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