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Fly News Breaks for February 12, 2020
TAK, FATE
Feb 12, 2020 | 07:28 EDT
Wells Fargo analyst Jim Birchenough raised his price target for Fate Therapeutics (FATE) to $34 from $24 following detailed review of data publication in the NEJM for competing CD19 CAR-NK therapeutic from MD Anderson and partner Takeda (TAK). Overall, the analyst says results "strongly" validate the potential for CAR-NK therapeutics as an off-the-shelf alternative to more cumbersome autologous CAR-T and even allogeneic CAR-T options and continues to view Fate Therapeutics as "highly differentiated" with the first iPSC cell source and advantages of scale, costs and consistency of product. Birchenough reiterates an Overweight rating on Fate's shares.