RBC Capital raised the firm’s price target on Exelixis (EXEL) to $40 from $38 and keeps an Outperform rating on the shares. The firm notes that the company’s Cabometyx is on the cusp of potential label expansion in neuroendocrine tumors with an upcoming PDUFA date set for April 3rd, which represents a nice near-term growth opportunity for the franchise, the analyst tells investors in a research note.
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