In a report released today, Leah R. Cann from Oppenheimer maintained a Buy rating on Exelixis (EXEL), with a price target of $40. The company’s shares closed yesterday at $20.56.
Cann said:
“The expansion of Cabometyx development into checkpoint combination therapy in HCC is a potential step toward use of Cabometyx in the front-line HCC setting, which could provide upside to our outlook. Past evidence of potential synergistic effects with Cabometyx and immune checkpoint inhibitors makes COSMIC-312 a rational development program. We believe the most important near-term event for Cabometyx in HCC is FDA approval as a single agent in the second-line setting, which is expected by mid-January 2019.”
According to TipRanks.com, Cann is a 4-star analyst with an average return of 4.8% and a 44.1% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Exelixis with a $27.50 average price target, which is a 33.8% upside from current levels. In a report issued on November 27, Piper Jaffray also maintained a Buy rating on the stock with a $26 price target.
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Exelixis’ market cap is currently $6.15B and has a P/E ratio of 17.42. The company has a Price to Book ratio of 6.71.
Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock.
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Exelixis, Inc. is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of Cometriq, Cabometyx, and Cotellic.
