Exelixis (EXEL) Bullish View Reiterated at Leerink Following Positive CABOSUN Data

Leerink Partners analyst Michael Schmidt reiterated an Outperform rating and $15 price target on Exelixis (NASDAQ: EXEL) after the company reported positive CABOSUN data to be presented as a late breaker at ESMO later today.

Schmidt commented, "Overall, the data looks clearly statistically and clinically significant in terms of p-value and hazard ratio and we would expect a high approval probability in moderate and poor risk front-line treatment of renal cell carcinoma (RCC), representing roughly 80% of the annual incidence based on the published literature."

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 $12.95 yesterday.

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