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Fly News Breaks for May 12, 2015
ZIOP, XON
May 12, 2015 | 05:55 EDT
Mizuho analyst Peter Lawson lowered his price target for Intrexon (XON) to $45 from $50 and reiterates a Neutral rating on the stock. Lawson views the synthetic biology company's Q1 results as a "non-event," but calls Intrexon's special dividend of its equity stake in Ziopharm (ZIOP) "unexpected and atypical." The analyst believes the move raises questions as the investment firm of Intrexon CEO RJ Kirk owns approximately 60% of Intrexon and 15% of Ziopharm. Shares of Intrexon rallied $2.36 to $45.40 last night in after-hours trading.
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