UPDATE: Wolfe Research Starts Exelixis (EXEL) at Outperform

March 11, 2021 4:55 PM EST
Get Alerts EXEL Hot Sheet
Price: $24.05 --0%

Rating Summary:
    12 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 15 | New: 22
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(Updated - March 11, 2021 4:57 PM EST)

Wolfe Research analyst Akash Tewari initiates coverage on Exelixis (NASDAQ: EXEL) with a Outperform rating and a price target of $35.00.

The analyst comments "We think EXEL is entering an important 2 year phase that could unlock value by materially changing street sentiment… we believe EXEL is in a solid IP position and will likely go out to 2030, instead of what people think re: 2026. We also think there were clear clinical pt pop. differences between CLEAR study and CM 9ER. EXEL combo has an impt tolerability advantage and our math suggests mgmt only needs 20-25% of the 1L RCC market to hit guidance + there are call options on HCC, and mCRPC."

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 $22.21 yesterday.

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