JMP Securities analyst Silvan Tuerkcan raised the firm’s price target on Exelixis to $27 from $24 and keeps an Outperform rating on the shares. Exelixis’ pivotal Phase 3 CONTACT-02 study of cabozantinib and atezolizumab in subjects with mCRPC demonstrated a statistically significant improvement in PFS at the primary analysis and plans to submit an sNDA in the next 3-5 months, the analyst tells investors in a research note.
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