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Fly News Breaks for August 8, 2019
Aug 8, 2019 | 07:37 EDT
Cantor Fitzgerald analyst Alethia Young views the post-earnings selloff yesterday in shares of Xencor as overdone. While the company shifted timelines for SSTR2xCD3 and PD-1xCTLA-4 assets from end of 2019 to the first half of 2020, the selloff yesterday was likely an overreaction, Young tells investors in a research note. She thinks Xencor's platform value remains the same and views the company as very well capitalized with $625M in cash. The analyst reiterates an Overweight rating on the shares with a $40 price target.
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