Canaccord Genuity Maintains a 'Hold' on Exelixis (EXEL); Analyst Day Takeaways
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Price: $52.32 +2.11%
Rating Summary:
14 Buy, 12 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
14 Buy, 12 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Canaccord Genuity maintains a 'Hold' on Exelixis (NASDAQ: EXEL) price target lowered from $6 to $4.
Canaccord anaylst, George Farmer, said, "As announced at EXEL’s R&D Day last week, the planned Phase III 306 trial evaluating cabo in CRPC will employ a 60 mg/day dose (down from the 100 mg/day evaluated in the initial Phase II), which appears to sit in an appropriate therapeutic window. High rates of pain reduction and bone scan improvements support the likelihood that 306 will hit its primary endpoint of pain improvement and narcotic use reduction, in our view."
"We maintain our rating on EXEL shares on our view of a long development timeline for lead candidate cabozantinib (cabo) as treatment of castration-resistant prostate cancer (CRPC)."
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 $4.21 yesterday.
Canaccord anaylst, George Farmer, said, "As announced at EXEL’s R&D Day last week, the planned Phase III 306 trial evaluating cabo in CRPC will employ a 60 mg/day dose (down from the 100 mg/day evaluated in the initial Phase II), which appears to sit in an appropriate therapeutic window. High rates of pain reduction and bone scan improvements support the likelihood that 306 will hit its primary endpoint of pain improvement and narcotic use reduction, in our view."
"We maintain our rating on EXEL shares on our view of a long development timeline for lead candidate cabozantinib (cabo) as treatment of castration-resistant prostate cancer (CRPC)."
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 $4.21 yesterday.
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