Stifel analyst Stephen Willey raised the firm’s price target on Zymeworks (ZYME) to $40 from $30 and keeps a Buy rating on the shares. The firm is updating its model to reflect partner Jazz Pharmaceuticals’ (JAZZ) disclosure of statistically-significant and clinically-meaningful topline results from the Phase 3 HERIZON-GEA-01 trial and Zyme’s more-granular disclosure of those near-term regulatory milestone payments that are now likely-to-be-triggered following the trial success, the analyst tells investors.
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