Stifel analyst Thomas Shrader acknowledges that Intrexon's Q1 results press release and associated call were "highly complex" and the stock remains "highly polarizing," but he believes the company is making incremental progress, that the potential deployment of its mosquitoes to combat Zika seems to be advancing, and noted that its gas to liquid bioconversion programs were reported to be in the "red zone" of development. The company appears to be increasingly focused on non-therapeutic and non-medical projects and Shrader continues to view its gas to liquid energy conversion program as the highest value opportunity at Intrexon, he told investors in a post-earnings research note. The firm keeps a Buy rating and $57 price target on Intrexon shares.