J.P. Morgan analyst Brian Cheng has maintained their bullish stance on ZYME stock, giving a Buy rating on October 24.
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Brian Cheng has given his Buy rating due to a combination of factors that highlight Zymeworks’ potential in the competitive FRa ADC space. The company’s recent Phase 1 data presentation at the ENA conference demonstrated promising results, particularly in dose optimization for PROC, which could lead to significant advancements in treatment options.
Furthermore, Zymeworks’ management has expressed confidence in the differentiated safety profile of their product, ZW191, which could set it apart from competitors. The possibility of forming strategic partnerships before pivotal trials also presents an opportunity to accelerate development and commercialization, enhancing the company’s growth prospects.
Cheng covers the Healthcare sector, focusing on stocks such as Zymeworks, Allogene Therapeutics, and Ascentage Pharma Group International Unsponsored ADR. According to TipRanks, Cheng has an average return of -8.5% and a 44.59% success rate on recommended stocks.
In another report released on October 24, Stifel Nicolaus also maintained a Buy rating on the stock with a $28.00 price target.