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Fly News Breaks for July 8, 2019
Jul 8, 2019 | 07:21 EDT
Stifel analyst Benjamin Burnett resumed coverage of Genocea with a Buy rating and $13 price target after the firm was a joint book running manager for the company's 10M shares secondary offering of common stock. He thinks investors have underappreciated the "compelling" immunogenicity phase 1 data from GEN-009, Genocea's lead program, Burnett tells investors. Genocea's current valuation, which is at the low range of peers, makes the shares worth owning ahead of clinical efficacy data expected in 2020, Burnett contends.