Truist analyst Asthika Goonewardene initiated coverage of Zymeworks (ZYME) with a Buy rating and $40 price target The firm says the company has shifted from a traditional platform-centric biotech to a royalty-focused business. Truist views zanidatamab and pasritamig as two potential blockbuster drugs that will generate “considerable” milestone and royalty income for Zymeworks. The company can also continue to leverage its leading drug development platform to create incremental value, the analyst tells investors in a research note.
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