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Fly News Breaks for October 8, 2018
EXEL
Oct 8, 2018 | 14:42 EDT
Piper Jaffray analyst Edward Tenthoff reiterated an Overweight rating and $29 price target on Exelixis. The analyst noted that Exelixis initiated a Phase III trial of Cabometyx in radioiodine-refractory differentiated thyroid cancer, or DTC. He is looking for continued Cabometyx adoption in first and second-line renal cell carcinoma with sales of $572M this year, and sees Cabometyx approval in 2nd-line liver cancer by the January 14 PDUFA date, which will help drive sales to $873M in 2019.
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