Truist Remains Bullish on Zymeworks (ZYME) – Here’s Why

Zymeworks Inc. (NASDAQ:ZYME) is one of the best small cap stocks to buy with the highest upside potential. Truist lifted the price target on Zymeworks Inc. (NASDAQ:ZYME) to $31 from $28 on July 7 and maintained a Buy rating on the shares. The rating update came as part of a broader research note, with the firm updating its models and previewing Q2 earnings in Biotech. Truist told investors in a research note that it is anticipating a rebound from a traditionally softer start to the year, with strength in fiscal Q2 prints for commercial franchises within its coverage. The firm further stated that it sees a robust catalyst calendar, supported by sector optimism and deal activity as drivers for the recent momentum across the sector.

Zymeworks Inc. (NASDAQ:ZYME) also received a rating update from Wells Fargo on June 30. The firm lifted the price target on the stock to $37 from $34 and reaffirmed an Overweight rating on the shares. The firm stated that it views the acquisition of Theravance Biopharma as setting the tone for future royalty portfolio buildout and thinks that the multi-component structure of this deal looks appropriate for a company with internal development capabilities.

Zymeworks Inc. (NASDAQ:ZYME) is a biopharmaceutical company involved in the discovery, development, and commercialization of novel, multifunctional biotherapeutics. Its product includes Zanidatamab, a novel bispecific antibody that targets two distinct domains of the human epidermal growth factor receptor 2 (HER2).

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