Zymeworks initiated with an Outperform at Citizens JMP

Citizens JMP initiated coverage of Zymeworks (ZYME) with an Outperform rating and $32 price target The company’s first internally developed product candidate, zanidatamab, was approved by the FDA, the analyst tells investors in a research note. The firm thinks Zanidatamab’s second approval in gastroesophageal adenocarcinoma, expected in the second half of 2026, has a high likelihood of success.