Friday, April 4, 2014

Exelixis upgraded by Piper Jaffray

Exelixis (EXEL) received an upgrade from Piper Jaffray this morning to buy with a price target of $11.  The firm believes that the market has "washed out" it's lead drug in phase 3 development for prostate cancer.  As I recently blogged, I believe in Exelixis' long term potential as they have a number of other shots on goal including phase 3 trials in HCC and RCC with the same compound as well as a phase 3 compound partnered with Roche in Melanoma which will report results later this year. 

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