Exelixis’ Stock Regains Its Mojo
The past six months have been rough for investors and the management team at Exelixis (NASDAQ: EXEL). The stock sank nearly 40% from its high north of $24 in April to its recent range of $15. Today, however, sentiment appears to be shifting in Exelixis' favor.
While the stock looked weak, the business remains strong. The latest earnings report irked some investors, since the net product revenue came in just under analyst expectations. Some fear that competition from big pharma competitors Pfizer (NYSE: PFE) and Merck (NYSE: MRK) might be creating tough headwinds for Cabometyx (Cabo), Exelixis' leading drug.
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Source Fool.com
