Avery Schumer
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The Risk/Reward Potential For Exelixis Has Balanced As Catalysts Loom

Deutsche Bank analyst Andrew Peters downgraded shares of Exelixis, Inc (NASDAQ: ) on Thursday, while raising his price target from $26 to $29.

The company had been Deutsche Bank’s top pick since initiating coverage on the biotech sector last year.

The downgrade wasn't a result of downsides ahead though, Peters sees Exelixis “as an undisputed success story in biotech.” Instead, the company is simply lack new catalysts.

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