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Fly News Breaks for June 14, 2019
XBIT
Jun 14, 2019 | 04:48 EDT
Piper Jaffray analyst Joseph Catanzaro started XBiotech with an Overweight rating and $13 price target. Clinical activity for the company's lead asset bermekimab in two inflammatory skin diseases - hidradenitis suppurativa and atopic dermatitis - has been "very encouraging," Catanzaro tells investors in a research note. He believes these early data compare favorably to standard of care biologics Humira and Dupixent in each setting, respectively. The analyst expects XBiotech shares to appreciate as it advances bermekimab in both indications.
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