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Fly News Breaks for June 21, 2016
RHHBY, EXEL
Jun 21, 2016 | 08:41 EDT
Leerink analyst Michael Schmidt raised his price target for Exelixis (EXEL) to $10 from $8 and reiterates an Outperform rating on the stock as he sees upside generated by its Cotellic, which has been developed in partnership with Roche (RHHBY), based on recent initiation of Phase 3 trials in colorectal cancer with additionally ongoing Phase 1 and 2 studies providing optionality. Additionally, the analyst believes Exelixis' Cabometyx is well positioned to capture "significant" market share in the treatment of renal cell carcinoma.
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