Zymeworks price target raised to $32 from $26 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Zymeworks (ZYME) to $32 from $26 and keeps a Buy rating on the shares. Ziihera plus chemotherapy and Ziihera plus Tevimbra and chemotherapy demonstrated “highly statistically significant” and clinically meaningful improvements in progression-free survival compared to the control arm, trastuzumab plus chemotherapy, the analyst tells investors in a research note. Given the data, the firm upped its probability of approval for Ziihera in first-line HER2+ gastroesophageal adenocarcinoma to 90% from 60%.