Charles Zhu, an analyst from LifeSci Capital, maintained the Buy rating on Zymeworks (ZYME – Research Report). The associated price target remains the same with $30.00.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Charles Zhu’s rating is based on several promising developments for Zymeworks. The company has recently received conditional marketing authorization from the European Commission for its drug Zanidatamab, specifically for second-line HER2-positive biliary tract cancer (BTC). This approval follows a similar milestone in China, which triggered a significant financial milestone payment, indicating strong international regulatory progress.
Additionally, Zymeworks is positioned to benefit from substantial potential milestone payments and royalties from its partnerships, which could total up to $1.53 billion. The upcoming Phase 3 HERIZON-GEA-01 data, expected in the second half of 2025, is highly anticipated and could further validate Zanidatamab’s efficacy. The drug’s demonstrated superiority over existing treatments in certain cancers adds to its potential, making Zymeworks an attractive investment opportunity.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ZYME in relation to earlier this year.