Personally, I believe 80% is really low odds for combo approval. NP answered this not too long ago and I am much closer to his probability of 99.8-99.9%.

Increased probability would increase their price target as this is part of their valuation model. Other impacts to this model are discounted cash flow-based asset value of $592M for HIV (I think this is low also, but believe this amount is only combo HIV....any increase would have positive impact) and 391M shares outstanding in May 2020 (I believe this will be higher, so negative impact to valuation).

If this analyst is the Mr. Chen that typically asks questions during Investors CC Q&A, then he seems well informed and follows CYDY closely and asks good questions IMO.