As previously reported, Guggenheim downgraded Exelixis (EXEL) to Neutral from Buy and removed the firm’s previous $45 price target on the shares. Noting that the stock nearly doubled over the last two years, the firm believes the share price now reflects fair value for the Cabometyx franchise and pipeline. In addition, the firm believes visibility on new growth drivers after the 2030 patent cliff remains low.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EXEL:
- Exelixis downgraded to Neutral from Buy at Guggenheim
- EXEL Earnings this Week: How Will it Perform?
- Exelixis’s Strategic Positioning and Market Prospects Justify Buy Rating Amid RCC Treatment Dynamics
- Buy Rating Affirmed for Exelixis: Promising Phase 3 Trial Results and Favorable Valuation Despite Safety Concerns
- Apple, MARA, Exelixis, Strategy, Dell: Trending by Analysts