#4 - Exelixis (NASDAQ:EXEL)
Most of the stocks in this presentation have benefited from the coronavirus. Exelixis (NASDAQ:EXEL) has actually been on a roller coaster ride. After riding the market melt-up to a 25% gain, the stock plunged sharply and dropped more than 30% from that high. The stock currently sits about flat for the year.
But if the company isn’t competing in the coronavirus arena, they are one of the leaders in cancer treatment. While the world’s attention is rightly focused on containing the spread of the coronavirus, cancer is a disease that will be long after a vaccine for this novel virus is found.
The company’s top-selling drug, Cabometyx, is used to treat both kidney cancer and liver cancer. And, it’s becoming likely that the company will be receiving additional approved indications for Cabometyx by the end of the year. More indications mean more prospective patients and more revenue.
And, Exelixis currently has a huge cash position of $1.4 billion. This means the company has plenty of ammunition to develop new drugs or pursue a strategic acquisition.
About Exelixis
Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.
Read More - Current Price
- $35.61
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 14 Buy Ratings, 5 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $31.44 (11.7% Downside)
