H.C. Wainwright raises Zymeworks stock price target to $55 on FDA approval
H.C. Wainwright has increased its price target for Zymeworks stock (NASDAQ:ZYME) to $55 from $51, maintaining a Buy rating. The firm's decision is based on the FDA approval of Ziihera-containing regimens for first-line treatment of HER2-positive gastroesophageal adenocarcinoma. The approval is a significant milestone, triggering a $250 million payment from Jazz Pharmaceuticals, Zymeworks' partner.
The FDA approval led to a 85% return for Zymeworks stock over the past year and positions the company near its 52-week high. Analysts predict the company will be profitable this year, with revenue growth forecast at 188% for FY2026.
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