Citizens JMP Reiterates Market Outperform Rating on Exelixis (EXEL)

Citizens JMP analyst Silvan Tuerkcan reiterated a Market Outperform rating and $47.00 price target on Exelixis (NASDAQ: EXEL).

The analyst commented, “We caught up with management to discuss two key points on the zanza franchise: 1) Recent change in endpoint in CRC trial (STELLAR-303), where EXEL recently changed the endpoint to a dual endpoint (OS in ITT and NLM patients), allowing the study to be positive if either population outperforms the comparator. The prior endpoint was sequential OS. The goal is the largest possible population, but change accelerates results. 2) ASCO data has little read-across to the Ph3 nccRCC, but overall this weekend's data adds additional testament to zanza's activity.”

For an analyst ratings summary and ratings history on Exelixis click here. For more ratings news on Exelixis click here.

Shares of Exelixis closed at $42.88 yesterday.

You May Also Be Interested In

• SpaceX (SPCX) gains nearly 6% as traders follow the money
• Btig warns stock investors on seasonal weakness ahead in election year
• Macquarie cut Australian bank revenue forecasts