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Fly News Breaks for August 7, 2019
XNCR, ALXN
Aug 7, 2019 | 07:32 EDT
Wedbush analyst David Nierengarten raised his price target for Xencor (XNCR) to $54 from $43 as he believes it remains a de-risked platform name, no near-term cash needs, and with support for its valuation from Alexion (ALXN) Ultomiris royalties, and a potentially more significant royalty stream from tafasitamab with multiple early-stage pipeline candidates to provide future upside. The analyst reiterates an Outperform rating on Xencor's shares.
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