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Fly News Breaks for September 22, 2017
EXEL
Sep 22, 2017 | 07:48 EDT
Leerink analyst Michael Schmidt downgraded Exelixis to Market Perform and lowered its price target to $28 from $34 saying fundamentals are strong but shares are fairly valued. Schmidt remains constructive on the long-term potential of Cabometyx in combination with immune-checkpoint inhibitors, but believes the commercial opportunity in HCC could be smaller than anticipated and lowered his long-term forecast below consensus.
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