TD Cowen Reiterates Buy Rating on Exelixis (EXEL)

TD Cowen analyst Yaron Werber reiterated a Buy rating and $27.00 price target on Exelixis (NASDAQ: EXEL).

The analyst commented, "Judge Andrews ruled that cabo's malate salt patents are valid (expiring on 01/15/30), which means that MSN is infringing these valid patents. That means that cabo is protected from MSN until that point. Recall that Teva settled to launch on 01/01/31. This is positive as we modeled protection until '28 assuming a settlement. This will provide EXEL more time to develop its pipeline."

For an analyst ratings summary and ratings history on Exelixis click here. For more ratings news on Exelixis click here.

Shares of Exelixis closed at $26.24 yesterday.

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