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.