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Fly News Breaks for November 23, 2015
EXEL
Nov 23, 2015 | 08:19 EDT
Leerink analyst Michael Schmidt says his firm's survey of 40 U.S. oncologists indicates shares of Exelixis are fairly valued. The company's cabozantinib is seen by oncologists as an agent of choice in third-line renal cell carcinoma with some use in second-line, Schmidt tells investors in a reserhc note. He models $378M U.S. cabozantinib sales in renal cell carcinoma in 2020. The analyst keeps a Market Perform rating on Exelixis with a $6 price target.
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