Zymeworks price target raised to $9 from $7 at Barclays

Barclays analyst Gena Wang raised the firm’s price target on Zymeworks to $9 from $7 and keeps an Equal Weight rating on the shares after Jazz exercised the option to continue the zanidatamab collaboration with an additional $325M upfront payment to Zymeworks. The payment strengthens its financial position and supports Zymeworks’ earlier pipeline development, Wang tells investors in a research note.