Wells Fargo analyst Derek Archila lowered the firm’s price target on Exelixis (EXEL) to $30 from $36 and keeps an Equal Weight rating on the shares. The firm hosted key opinion leader doctor Namrata Vijayvergia, whose commentary was more cautious/negative on zanza’s utilization in 3L+ CRC based on the STELLAR-303 results. Wells cuts its 2035 forecasts by 50% as a result. Street estimates need to come down, the firm argues.
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