Exelixis price target raised to $27 from $25 at BofA

BofA raised the firm’s price target on Exelixis to $27 from $25 and keeps a Buy rating on the shares. The firm forecasts in-line to slightly lower company sales, with the “small miss” attributable to U.S. Cabometyx script growth “somewhat softening.” However, its higher target is attributable to adding risk-adjusted pipeline contribution from zanza and TF-ADC and edging up its view of the likelihood of success for cabo prostate, the analyst tells investors.