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EXEL

Exelixis

$20.62

-0.1 (-0.48%)

13:15
05/15/18
05/15
13:15
05/15/18
13:15

Exelixis put volume heavy and directionally bearish

Bearish flow noted in Exelixis with 1,107 puts trading, or 1.3x expected. Most active are May-18 25 puts and Aug-18 20 calls, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 1.99, while ATM IV is up nearly 2 points on the day. Earnings are expected on August 2nd.

  • 15

    May

  • 21

    May

  • 12

    Jun

EXEL Exelixis
$20.62

-0.1 (-0.48%)

04/10/18
RBCM
04/10/18
NO CHANGE
RBCM
Top Pick
Exelixis selloff yesterday a buying opportunity, says RBC Capital
RBC Capital analyst Kennen MacKay attributes yesterday's late-date weakness in shares of Exelixis (EXEL) to the clinicaltrials.gov update for Roche's (RHHBY) first-line metastatic colorectal cancer maintenance study indicating that recruitment has been suspended. The study is assessing "Cotezo," a combination of Exelixis/Roche's Cotellic and Roche's Tecentriq. The analyst says his correspondence with Exelixis management highlights that this is a temporary halt on recruitment only. MacKay recommends buying Exelixis on the weakness and remains bullish on the IMblaze370 trial.
04/11/18
WBLR
04/11/18
NO CHANGE
WBLR
Outperform
William Blair an 'aggressive' buyer of Exelixis after 28% pullback
William Blair analyst Andy Hsieh says he's an "aggressive" buyer of Exelixis with the stock down 28% since the Q4 earnings call on February 28. The previously announced Merck-Eisai collaboration agreement to jointly develop and commercialize Lenvima could serve as a comp to Exelixis's cabozantinib franchise, Hsieh tells investors in a research note. Eisai ascribes a value of roughly $7.9B for the Lenvima franchise, which equates to $26.66 per share for Exelixis, the analyst writes. With Exelixis trading at $6.3B in market cap or $5.8B in enterprise value, the current valuation does not account for the full potential of the cabozantinib franchise and does not include Cotellic, which is in three Phase III studies and being investigated in four oncology indications, Hsieh argues. He keeps an Outperform rating on the shares and believes the Merck-Eisai Deal highlights a "significant valuation disconnect."
05/10/18
STFL
05/10/18
NO CHANGE
STFL
Hold
Exelixis pullback may create interesting entry point, says Stifel
After Exelixis (EXEL) and partner Roche (RHHBY) announced the Phase 3 IMblaze370 trial did not achieve statistical-significance on the primary efficacy endpoint evaluating the ability of a combination of a MEK inhibitor and anti-PD-L1 to improve overall survival in patients with microsatellite stable metastatic colorectal cancer, Stifel analyst Stephen Willey said he believes attrition in Exelixis shares might create an interesting entry point. The failure of IMblaze370 removes some of Exelixis' longer-term optionality and he expects topics of RCC growth/competition, label expansion, and longer-term cabozantinib exclusivity to remain core to the story going forward, said Willey who has a Hold rating on the stock. Array BioPharma (ARRY) also has Phase 1/2 development collaborations in place with both Bristol-Myers (BMY) and Merck (MRK) evaluating the MEK/PD-1 hypothesis in earlier-lines of MSS mCRC, noted Willey, who said he would "be opportunistic" on any weakness in its shares. He maintains a Buy rating on Array, which is down 5% in pre-market trading.
05/10/18
PIPR
05/10/18
NO CHANGE
Target $29
PIPR
Overweight
Exelixis price target lowered to $29 from $33 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff lowered his price target on Exelixis (EXEL) to $29 from $33 after partner Roche (RHHBY) reported the Phase 3 IMblaze370 trial in microsatellite stable colorectal cancer patients did not meet its overall survival primary endpoint. However, the data do not impact two ongoing Phase 3 trials of cobimetinib and Tecentriq in BRAF-mutant melanoma, said Tenthoff, who keeps an Overweight rating on Exelixis shares.

TODAY'S FREE FLY STORIES

LNC

Lincoln National

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-0.555 (-0.80%)

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DGLY

Digital Ally

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SNGX

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HF

HFF Inc.

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    May

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

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OMED

OncoMed

$2.81

0.06 (2.18%)

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MTEM

Molecular Templates

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  • 05

    Jun

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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SPY

SPDR S&P 500 ETF Trust

$272.22

-0.65 (-0.24%)

, USO

United States Oil Fund

$13.68

-0.605 (-4.24%)

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SPDR S&P 500 ETF Trust

$272.22

-0.65 (-0.24%)

USO

United States Oil Fund

$13.68

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GLD

SPDR Gold Trust

$123.21

-0.4 (-0.32%)

FXE

Euro Currency Trust

$111.98

-0.62 (-0.55%)

FXC

CurrencyShares Canadian Dollar Trust

$76.07

-0.37 (-0.48%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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NYSE market internals summary »

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DIS

Disney

$102.20

0.1 (0.10%)

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Disney cuts opening weekend sales forecast for 'Solo', Bloomberg says »

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FMSA

Fairmount Santrol

$5.51

-0.26 (-4.51%)

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RMBL

RumbleON

$4.88

0.16 (3.39%)

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UAVS

Ageagle Aerial Systems

$2.25

0.04 (1.81%)

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Breaking Syndicate news story on Ageagle Aerial Systems »

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ARCI

Appliance Recycling

$0.82

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CIT

CIT Group

$51.62

-1.13 (-2.14%)

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TRVG

Trivago

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MGLN

Magellan Health

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  • 05

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LPI

Laredo Petroleum

$8.60

-0.765 (-8.17%)

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GE

General Electric

$14.57

-0.025 (-0.17%)

15:42
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AZN

AstraZeneca

$37.03

0.15 (0.41%)

15:40
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Options
AstraZeneca call buyer opens position 4% above spot »

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  • 05

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HEDJ

WisdomTree Europe Hedged Equity Fund

$66.46

-0.24 (-0.36%)

15:30
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Wisdom Tree Europe Hedged Equity Fund attracts put buying »

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ATUS

Altice USA

$18.43

-0.12 (-0.65%)

15:29
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Altice USA management to meet with JPMorgan »

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  • 29

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CLX

Clorox

$122.59

2.89 (2.41%)

15:25
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Clorox call volume above normal and directionally bullish »

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  • 30

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QCOM

Qualcomm

$59.67

0.57 (0.96%)

, NXPI

NXP Semiconductors

$116.47

5.03 (4.51%)

15:22
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QCOM

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NXP Semiconductors

$116.47

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