Cantor Fitzgerald analyst Bradon Folke last night initiated coverage of Pfenex with an Overweight rating and $20 price target. The company has "regenerated itself to a position that presents a compelling investment opportunity" for investors going into 2020, Folke tells investors in a research note. Even though the stock is up 150% year-to-date, Pfenex continues to have "significant value" which can still be unlocked over the coming 12-18 months through data readouts, as well as the potential therapeutic equivalent rating and launch of PF708, contends the analyst. He expects data readouts, approvals, and upward earnings revisions to drive the stock higher.