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Fly News Breaks for January 13, 2020
EXEL
Jan 13, 2020 | 08:20 EDT
SunTrust analyst Asthika Goonewardene initiated coverage of Exelixis with a Buy rating and $31 price target. The analyst contends that its lead asset Cabometyx has a potentially "best-in-class" profile that is not currently reflected in the stock price and sees the company positioned for a "positively transformative" next 18 months with "ample" catalysts helping to unlock its value. Goonewardene adds that while its early to assign value, he is positive on the prostate and lung cancer indications for Exelixis.