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EXEL

Exelixis

$12.95

-0.23 (-1.75%)

, PFE

Pfizer

$33.68

0.12 (0.36%)

14:42
10/10/16
10/10
14:42
10/10/16
14:42

Exelixis briefly crashes, recovers after cancer expert doubts latests data

Exelixis (EXEL) dipped Monday after the official Twitter account of the European Society for Medical Oncology, which is holding a closely-watched medical conference, tweeted a statement by a cancer research expert that a Phase 3 trial is needed to confirm the company's Phase 2 data on cabozantinib, which were presented this morning. CABO RESULTS: Early this morning, Exelixis reported detailed results of its Phase 2 "CABOSUN" trial of cabozantinib in renal cell carcinoma, a type of kidney cancer. The drug demonstrated a median delay in disease progression of 8.2 months as compared to 5.6 months for Pfizer's (PFE) sunitinib, the competing treatment in the study. Forty-six percent of cabozantinib patients experienced tumor shrinkage versus 18% of sunitinib patients, and the drug achieved a median patient survival time of 30.3 months relative to sunitinib's 21.8 months. ESCUDIER SAYS CONFIRMATION NEEDED: The Twitter account of the European Society for Medical Oncology, which is relaying comments made by researchers and opinion leaders at the ongoing ESMO 2016 conference, tweeted a statement from Bernard Escudier that "a Phase 3 trial is warranted to confirm the CABOSUN results." Escudier is a well-placed member of the Gustave Roussy cancer research institute in France and has served as lead researcher in previous studies of cabozantinib. PRICE ACTION: Shares of Exelixis briefly crashed roughly 11% to $11.53 shortly after ESMO's tweet, but have since recovered and are trading near $12.91 per share. Reference Link

EXEL

Exelixis

$12.95

-0.23 (-1.75%)

PFE

Pfizer

$33.68

0.12 (0.36%)

  • 10

    Oct

  • 10

    Oct

  • 01

    Nov

EXEL Exelixis
$12.95

-0.23 (-1.75%)

10/10/16
LEER
10/10/16
NO CHANGE
LEER
Outperform
Leerink says ESMO raises confidence in potential label expansions at Exelixis
Following several oral and poster presentations this weekend at the ESMO cancer meeting, Leerink analyst Michael Schmidt said he has greater confidence regarding several potential label expansion opportunities for Exelixis' two products, Cabometyx and Cotellic. Cabometyx is "very well positioned" to capture significant market share and consensus expectations for Cotellic are only modest, believes Schmidt, who keeps an Outperform rating on Exelixis shares.
10/10/16
PIPR
10/10/16
UPGRADE
PIPR
Overweight
Exelixis upgraded to Overweight from Neutral at Piper Jaffray
10/10/16
PIPR
10/10/16
UPGRADE
Target $21
PIPR
Overweight
Exelixis upgraded to Overweight after trial success at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff upgraded Exelixis to Overweight from Neutral after the company reported Phase II CABOSUN data in 157 front-line metastatic Renal Cell Carcinoma patients. The data are "good enough" to file a supplemental new drug application and could drive off-label front-line RCC use, Tenthoff tells investors in a research note. The analyst raised his price target for the shares to $21 from $8.
10/10/16
10/10/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Mylan (MYL) upgraded to Strong Buy from Market Perform at Raymond James with Elliot WIlbur saying the Department of Justice settlement over EpiPen rebates eliminates a significant overhang on shares enabling the focus to be back on fundamentals. 2. Under Armour (UA) upgraded to Outperform from Market Perform at Wells Fargo with analyst Tom Nikic saying "noise" from the Sports Authority's bankruptcy is fading while distribution expansion could lead to sales re-acceleration over the next 12-18 months. 3. Deere (DE) and AGCO (AGCO) were upgraded to Outperform from Market Perform at Wells Fargo. 4. Dow Chemical (DOW) upgraded to Buy from Neutral at UBS with analyst John Roberts saying the merger with DuPont (DD) could gain regulatory approval and that the stock is "now too cheap to ignore." 5. Exelixis (EXEL) upgraded to Overweight from Neutral at Piper Jaffray with analyst Edward Tenthoff saying the data are "good enough" to file a supplemental new drug application and could drive off-label front-line RCC use. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
PFE Pfizer
$33.68

0.12 (0.36%)

08/23/16
PIPR
08/23/16
NO CHANGE
PIPR
Pfizer acquisition 'a good fit strategically,' says Piper Jaffray
After Pfizer (PFE) agreed to buy Medivation (MDVN), Piper Jaffray analyst Richard Purkiss says that Pfizer has obtained Xtandi, "a blockbuster prostate cancer treatment," and "a close-to-market and late-stage pipeline." The analyst thinks that Xtandi's expansion to use in adjuvant prostate cancer could increase its sales by 65%-70%. He keeps a $54 price target and Overweight rating on Pfizer.
08/23/16
RHCO
08/23/16
DOWNGRADE
RHCO
Neutral
Medivation downgraded to Neutral from Buy at SunTrust
Medivation (MDVN) has agreed to be acquired by Pfizer (PFE) for $81.50 per share.
09/14/16
BMOC
09/14/16
NO CHANGE
BMOC
Pfizer should exceed fiscal 2016 guidance, says BMO Capital
BMO Capital analyst Alex Arfaei says that Pfizer should exceed its fiscal 2016 guidance. The analyst says that Medivation, which Pfizer agreed to acquire, gives Pfizer another growth driver. Additionally, Pfizer has a number of other "high margin specialty drugs," according to the analyst. He says that the stock's dividend yield is "attractive," and he keeps a $40 price target and Outperform rating on the shares.
10/07/16
ROTH
10/07/16
NO CHANGE
Target $160
ROTH
Buy
ICU Medical price target raised to $160 from $132 at Roth Capital
Roth Capital analyst Chris Lewis raised his price target for ICU Medical (ICUI) to $160 from $132 after the company announced an agreement to acquire Hospira Infusion Systems from Pfizer (PFE) for $1B. The analyst is overall positive on the deal as it removes the long-standing customer concentration overhang and grows ICU Medical into a legitimate pure-play infusion therapy company with a complete product portfolio. The company also preannounced Q3 preliminary results above expectations, he notes. Lewis reiterates a Buy rating on ICU Medical's shares.

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IIIN

Insteel

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0.57 (1.95%)

14:27
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Downgrade
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URI

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1.27 (0.70%)

14:25
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United Rentals call volume above normal and directionally bullish »

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  • 25

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XLK

Technology Select Sector SPDR

$67.80

0.25 (0.37%)

, XLF

Financial Select Sector

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Technical Analysis
Technical Take: S&P 500 turns positive, bullish intraday pattern active »

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$279.59

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$NSD

NASDAQ Market Internals

14:17
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Technical Analysis
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$NYE

NYSE Market Internals

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NYSE market internals summary »

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ADT

ADT Inc.

, APO

Apollo Global

$35.12

-0.3 (-0.85%)

14:14
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Syndicate
ADT Inc. IPO likely to price below $17-$19 range, WSJ reports »

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APO

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$35.12

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  • 01

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  • 19

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FB

Facebook

$177.60

-0.79 (-0.44%)

, AXP

American Express

$100.17

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AXP

American Express

$100.17

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IBM

IBM

$169.03

0.38 (0.23%)

PG

Procter & Gamble

$90.28

-0.2304 (-0.25%)

03/08/13
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  • 18

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TTWO

Take-Two

$116.09

2.13 (1.87%)

14:05
01/18/18
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Options
TakeTwo Interactive Software call volume above normal and directionally bullish »

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  • 07

    Dec

MGNX

MacroGenics

$19.85

0.07 (0.35%)

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  • 18

    Jan

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Conference/Events
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QEP

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  • 18

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JAGX

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$0.14

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PTCT

PTC Therapeutics

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MNTX

Manitex

$9.63

0.11 (1.16%)

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HMNY

Helios and Matheson

$7.73

-0.43 (-5.27%)

13:45
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Helios and Matheson call volume above normal and directionally bullish »

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AMZN

Amazon.com

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  • 18

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DB

Deutsche Bank

$18.57

0.05 (0.27%)

13:33
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  • 24

    Jan

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FMC Corporation

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, ALB

Albemarle

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F

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TM

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  • 24

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SLB

Schlumberger

$77.02

-0.195 (-0.25%)

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  • 19

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