Zymeworks coverage transferred at Wells Fargo with Overweight rating

Wells Fargo transferred its coverage of Zymeworks to analyst Derek Archila, who keeps an Overweight rating and a $12 price target on the stock. The catalyst path is a bit light for Zymeworks shares in the near term, but the value of zani’s future royalty streams and milestones is worth more than where the stock is trading, the analyst tells investors in a research note.