Information Provided By:
Fly News Breaks for January 12, 2020
EXEL
Jan 12, 2020 | 20:10 EDT
Piper Sandler analyst Edward Tenthoff notes that Exelixis pre-announced product sales of $200M in Q4, below his $210M estimate, totaling $765M for 2019, and provided down-to-flat 2020 product sales guidance of $725M-$775M, well below his $919M estimate. The analyst anticipates the shares will trade lower on this guidance. Tenthoff has an Overweight rating and $35 price target on the shares.