Wells Fargo analyst Jim Birchenough reiterated an Outperform rating on Zymeworks and raised his price target on shares to $42 from $37 following the recent initiation of phase 2 development for HER2 biparatopic antibody therapeutic ZW25 as frontline treatment for metastatic HER2+ gastroesophageal cancers. The analyst said he sees a reasonable likelihood of success due to strong phase 1b data.
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