David Martin PhD, an analyst from Bloom Burton, maintained the Buy rating on Zymeworks. The associated price target was raised to $27.00.
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David Martin PhD has given his Buy rating due to a combination of factors related to the promising performance of Zymeworks’ ZW191. The recent data presented at the AACR-NCI-EORTC Conference highlighted strong dose escalation results for ZW191, which targets the folate receptor-α (FR-α) in platinum-resistant ovarian cancer (PROC). These results suggest that ZW191 could potentially become best-in-class in this $2.5 billion market, especially if the outcomes are replicated in larger trials.
Moreover, ZW191 demonstrated a 64% overall response rate (ORR) in heavily pretreated PROC patients, surpassing the 42% ORR of the current market benchmark, Elahere. Importantly, ZW191 showed significantly reduced toxicity, with no treatment-related adverse events leading to discontinuation, compared to Elahere’s 9%. This favorable efficacy and safety profile supports the potential of ZW191 to expand into other cancer types, such as endometrial and non-small cell lung cancer, further justifying the Buy rating.
According to TipRanks, Martin PhD is a 5-star analyst with an average return of 17.3% and a 48.44% success rate. Martin PhD covers the Healthcare sector, focusing on stocks such as Aurinia Pharmaceuticals, Medicenna Therapeutics Corp, and Zymeworks.
In another report released on October 24, H.C. Wainwright also reiterated a Buy rating on the stock with a $26.00 price target.