Citizens JMP raised the firm’s price target on Exelixis (EXEL) to $46 from $41 and keeps an Outperform rating on the shares. Cabozantinib significantly surpassed consensus sales due to Q1 dynamics, and was also well above the firm’s higher-than-consensus estimate, the analyst tells investors in a research note. The firm is encouraged by the strong reacceleration in renal cell carcinoma, where cabo continues to gain market share.
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