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EXEL

Exelixis

$16.36

-0.14 (-0.85%)

07:42
10/15/19
10/15
07:42
10/15/19
07:42

Exelixis price target lowered to $25 from $33 at Guggenheim

Guggenheim analyst Michael Schmidt lowered his price target on Exelixis shares to $25 from $33 after the company disclosed its receipt of a Paragraph IV certification notice letter from MSN Pharmaceuticals regarding an ANDA for a generic version of Cabometyx. Based on his talks with a patent attorney, Schmidt thinks a mid-2026 launch of a generic version of Cabometyx represents "an unlikely bear case," with loss of exclusivity in the window of 2027-2030 seen by him as a more realistic base case. Schmidt keeps a Buy rating on Exelixis shares.

  • 06

    Nov

EXEL Exelixis
$16.36

-0.14 (-0.85%)

06/18/19
RHCO
06/18/19
DOWNGRADE
Target $48
RHCO
Hold
Array BioPharma downgraded to Hold from Buy at SunTrust
SunTrust analyst Peter Lawson downgraded Array BioPharma (ARRY) to Hold but raised his price target to $48 from $32 after the company announced that it is being acquired by Pfizer (PFE) at that price. The analyst notes that the 79% premium to the company's last closing price looks like a "fair valuation" based on his analysis of past comps and his M&A valuation model. Lawson adds that the the deal is "encouraging" within the biotech space with positive implications for other potential acquisition targets such as Agios Pharmaceuticals (AGIO) and Mirati herapeutics (MRTX) along with companies with strong chemistry such Incyte Corporation (INCY) and Exelixis (EXEL).
06/21/19
WBLR
06/21/19
NO CHANGE
WBLR
Outperform
William Blair an 'aggressive' buyer of Exelixis on weakness from clinical miss
William Blair analyst Andy Hsieh is an "aggressive" buyer of Exelixis (EXEL) shares on weakness after the company's partner Roche (RHHBY) informed the company that the Phase III IMspire170 trial, which assesses the safety and efficacy of the combination of Cotellic and Tecentriq, did not meet the primary endpoint of progression-free survival in treatment-naive melanoma. Hsieh says that while the news is disappointing, he reiterates that his bullish thesis resides in Exelixis's growth potential, driven by the Cabometyx franchise. As a result, the melanoma clinical setback does not impact the analyst's stock outlook. Further, he points out that he and the Street have not modeled revenue contribution from the IMspire170 study. Hsieh keeps an Outperform rating on Exelixis.
07/15/19
PIPR
07/15/19
NO CHANGE
PIPR
Exelixis trial updates 'encouraging,' says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff reiterated an Overweight rating and $45 price target on Exelixis, saying he is "confident" in CABO growth with net product sales forcast of $200M in Q2, $842M for FY19, and $1.08B in FY20. The analyst's note, titled Cabometyx I-O Combo Opportunity Grows in Phase Ib COSMIC-021 Study,' comes after the company announced new protocol updates to Phase Ib COSMIC-021 trial of Cabometyx + Tecentriq, which were spurred by "encouraging early efficacy and safety data in advanced NSCLC and mCRPC cohorts."
10/08/19
BMOC
10/08/19
NO CHANGE
Target $19
BMOC
Market Perform
Exelixis price target lowered to $19 from $23 at BMO Capital
BMO Capital analyst George Farmer lowered his price target on Exelixis to $19 and kept his Market Perform rating following the company's disclosure of a Paragraph IV Certification Notice regarding MSN Pharma's ANDA for generic version of CABOMETYX, or cabozantinib. The analyst notes that while the company's 8-K filing indicates that no direct challenge was made to the key patent expiring in 2026 that covers cabozantinib composition of matter, the timing of filing suggests that MSN Pharma may have plans to launch generic cabozantinib at risk of patent infringement after the 30-month stay. Farmer adds that the filing reduces the likelihood that a larger biotech or pharma company interested in expanding its commercial oncology franchise would approach Exelixis with a bid.

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AMRX

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VRTX

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Chemours

$17.55

0.955 (5.75%)

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PBYI

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GOOGL

Alphabet Class A

$1,344.42

-0.23 (-0.02%)

, GOOG

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$1,346.41

1.27 (0.09%)

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GRUB

GrubHub

$41.93

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TWTR

Twitter

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  • 12

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BA

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FOSL

Fossil

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XOM

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