Inhibrx downgraded to Market Perform from Outperform at JMP Securities

JMP Securities analyst Reni Benjamin downgraded Inhibrx to Market Perform from Outperform without a price target. The analyst believes the shares are fairly priced. With four distinct assets in the clinic, a registrational trial for INBRX-101 enrolling patients, results from multiple studies expected over the next 6-12 months, and a cash position of $356.6M, Inhibrx shares are fairly valued, the analyst tells investors in a research note.