|Over a week ago|
Zymeworks downgraded to Market Perform at SVB Leerink » 09:2302/2502/25/21
As previously reported,…
As previously reported, SVB Leerink analyst Andrew Berens downgraded Zymeworks to Market Perform from Outperform with a price target of $41, down from $50. The analyst thinks is likely to be a continued overhang from lack of clarity around the key asset, ZW49. Berens says he hosted a fireside chat with CEO Ali Tehrani and it was unclear to him when the next update for ZW49 would occur given that the company has decided to wait to present the dose escalation part of the trial until they have confirmed efficacy from about 10 patients in a single tumor type from the recently initiated dose expansion cohorts.
Zymeworks downgraded to Market Perform from Outperform at SVB Leerink » 06:5002/2502/25/21
SVB Leerink analyst…
SVB Leerink analyst Andrew Berens downgraded Zymeworks to Market Perform from Outperform with a $41 price target.
Zymeworks reports Q4 EPS (74c), consensus ($1.22) » 16:2902/2402/24/21
Reports Q4 revenue…
Reports Q4 revenue $15.68M, consensus $10.3M. The company said, "Throughout 2020, we initiated and advanced several clinical trials and achieved important regulatory milestones for zanidatamab and ZW49. This has set up 2021 to be a data-rich year for both of our lead clinical assets as well as new preclinical candidates and therapeutic platforms, and we are well resourced to deliver on our priorities." As of December 31, 2020, Zymeworks had $451.6M in cash resources consisting of cash, cash equivalents, short-term investments and certain long-term investments. It added,
Zymeworks assumed with a Buy at H.C. Wainwright » 06:0802/0802/08/21
H.C. Wainwright analyst…
H.C. Wainwright analyst Robert Burns assumed coverage of Zymeworks with a Buy rating and $57 price target. 2021 is likely to be a "catalyst-rich" period for the company, which is slated to report data from several clinical-stage programs in the coming months, Burns tells investors in a research note.
|Over a month ago|
Zymeworks upgraded to Buy from Neutral at Citi (yesterday) » 06:3601/2901/29/21
Citi analyst Yigal…
Citi analyst Yigal Nochomovitz yesterday morning upgraded Zymeworks to Buy from Neutral with an unchanged price target of $53. The analyst sees a better risk/reward following the recent selloff. The probability of success for ZW49 should not be lowered from the current 60% assumption because safety looks "very favorable" at the go-forward expansion dose and there is not enough information to properly evaluate efficacy, Nochomovitz told investors in a research note.
Zymeworks falls -22.8% » 10:0001/2801/28/21
Zymeworks is down -22.8%,…
Zymeworks is down -22.8%, or -$10.04 to $34.02.
Zymeworks price target lowered to $50 from $66 at SVB Leerink » 09:2101/2801/28/21
SVB Leerink analyst…
SVB Leerink analyst Andrew Berens lowered the firm's price target on Zymeworks to $50 from $66 and keeps an Outperform rating on the shares. The analyst notes that Zymeworks has announced initial ZW49 clinical data from the Phase 1 dose escalation study. Despite tempered investor expectations for the quantity of data to be seen at this update, he thinks the level of efficacy fell short of expectations. While Berens previously believed this event could de-risk ZW49, he now thinks the update may have created more questions than answers, pending a more detailed readout at an upcoming medical conference in the back half of the year.
Zymeworks price target lowered to $56 from $71 at Wells Fargo » 07:5001/2801/28/21
Wells Fargo analyst Jim…
Wells Fargo analyst Jim Birchenough lowered the firm's price target on Zymeworks to $56 from $71 and keeps an Overweight rating on the shares following interim data from the company's phase 1 dose escalation of novel HER2 ADC therapeutic ZW49. While it is still difficult to benchmark ZW49 to category leader ENHERTU, with continued dose escalation and a mixture of HER2 tumor types, the analyst believes the drug is active in a heavily pre-treated HER2 basket with safety profile allowing for additional optimization. Birchenough views base support for Zymeworks on lead HER2 antibody zanidatamab at $38 and sees significant option value to continued dose optimization of ZW49 and cohort expansion in key tumor types where more appropriate comparison to ENHERTU can be made.
Zymeworks price target lowered to $38 from $47 at Barclays » 06:4301/2801/28/21
Barclays analyst Gena…
Barclays analyst Gena Wang lowered the firm's price target on Zymeworks to $38 from $47 and keeps an Equal Weight rating on the shares. The analyst views the company's interim data of the Phase 1 dose-escalation trial of ZW49 in HER2-positive cancers as "underwhelming."
Zymeworks begins patient enrollment into expansion cohort of ph1 ZW49 trial » 17:1701/2701/27/21
The company states:…
The company states: "Zymeworks announced that the company has begun enrolling patients into the expansion cohort portion of the ongoing Phase 1 clinical trial for ZW49, its novel HER2-targeted antibody-drug conjugate. Supporting data from the Phase 1 dose escalation portion were highlighted today via a webcast and conference call and are summarized below. The dose escalation portion of the study employed a standard 3 + 3 design to evaluate escalating doses within different dosing regimens including once every two week (Q2W) and once every three week (Q3W) schedules with the objective of selecting a dose and schedule to advance into the expansion cohorts. To date patients from sites across the US and Canada with a variety of heavily pretreated HER2-positive cancer types have been enrolled, including breast cancer, gastroesophageal adenocarcinoma, gynecologic cancers, non-small cell lung cancer, anal cancer, and colorectal cancer. In the 35 patients who have received ZW49 across all dosing regimens, there have been no dose limiting toxicities, no treatment-related hematologic toxicities including neutropenia or thrombocytopenia, no treatment-related pulmonary toxicity including interstitial lung disease or pneumonitis, and no treatment-related liver toxicity. There have been no treatment-related deaths." Over 90% of treatment-related adverse events have been mild or moderate (Grade 1 or 2) in severity, with the most common being keratitis, fatigue, and diarrhea, which have been reversible and manageable in an outpatient setting. There have been no discontinuations due to treatment-related adverse events, and the maximum-tolerated dose has not yet been established.