Athenex initiated with a Buy at SunTrust. SunTrust analyst Peter Lawson initiated Athenex with a Buy and $20 price target, saying he is positive on the company’s “hydra-like” approach to killing cancer with T-cell, Kinases, and improved chemo therapies. Among the catalysts, the analyst notes that Athenex should have two New Drug Applications by the second half of 2020 with a sales force already in place and also points to its mid-2019 Phase 3 data for oral-chemo candidate Oraxol that “looks de-risked based on Phase 2 data.” Lawson also believes that risk-reward on Athenex is positive for the next 12 months with shares trading below IPO levels.
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