5 Most Undervalued Biotech Stocks to Buy According to Analysts

3. Zymeworks Inc. (NYSE:ZYME)

Upside Potential as of August 14: 89.81%

PE Ratio (TTM) as of August 14: 2.86

Number of Hedge Fund Holders: 22

Founded in 2003, Vancouver, Canada-based Zymeworks Inc. (NYSE:ZYME) is a global biotechnology company focused on the discovery, development, and commercialization of novel, multifunctional biotherapeutics targeting difficult-to-treat cancers and other diseases.

On August 10, Zymeworks Inc. (NYSE:ZYME) released its financial results and operational update for Q2 2023. It has engineered and developed zanidatamab, a HER2-targeted bispecific antibody using its proprietary Azymetric™ technology. Zanidatamab is currently being evaluated in global Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials as a treatment for patients with HER2-expressing cancers.

Zymeworks Inc. (NYSE:ZYME) has the lowest TTM PE ratio of 2.86 on our list of 11 most undervalued biotech stocks to buy according to analysts. The second lowest PE ratio on our list belongs to BioNTech SE (NASDAQ:BNTX) at 3.77.