RBC Capital lowered the firm’s price target on Exelixis (EXEL) to $45 from $50 and keeps a Sector Perform rating on the shares. The topline miss and trimming of zanza lifecycle programs is likely to drive the narrative and contribute to stock weakness in the near-term, the analyst tells investors in a research note. RBC continues to think shares are fairly valuing cabo’s remaining growth, zanza lifecycle, and the setup into STELLAR-303 mCRC data.
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