Wells Fargo upgraded Zymeworks (ZYME) to Overweight from Equal Weight with a price target of $33, up from $25. The firm believes the company’s gastroesophageal adenocarcinoma could drive upside in the shares. Th readout could generate enthusing for Zymeworks’ breast cancer opportunity, which Wells models at $1.5B and gives it a 55% probability of success.
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