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Analysts Speculate on Two Biotech Stocks: Valeant Pharmaceuticals Intl Inc (VRX), Exelixis, Inc. (EXEL)

Valeant Pharmaceuticals Intl Inc (NYSE:VRX) and Exelixis, Inc. (NASDAQ:EXEL) have stirred up interest after Valeant has stepped closer to FDA approval for Vesneo with an NDA resubmission and Exelixis brought to the table two collaboration agreements, placing the spotlight on its drug Cabometyx. Rodman & Renshaw remains sidelined for now, but could soon be betting on Valeant once again, with William Blair continuing to be bullish on Exelixis’ clinical potential. Let’s take a closer look:

Valeant Could be Circling FDA Green Light in the Next 2 Months

Valeant shares were surging forward 3% yesterday following the news that the biotech giant and its partner Nix S.A. have resubmitted their drug Vesneo (latanoprostene bunod), an intra-ocular pressure (IOP)-lowering single-agent eye drop product for treatment of open angle glaucoma or ocular hypertension, for FDA consideration.

Praising Vesneo’s “compelling” efficacy profile as well as a “favorable” competitive edge, Rodman & Renshaw analyst Ram Selvaraju is cautiously optimistic, acknowledging potential for him to shift away from the sidelines should the biotech giant impress with fourth quarter results. At this time, the analyst reiterates a Neutral rating on shares of VRX with a $23 price target, which represents a 39% increase from where the stock is currently trading.

For context, upon the first round of consideration, the FDA countered the original Vesneo New Drug Application (NDA), first submitted in July of 2016, with a Complete Response Letter (CRL) on back of deficiencies detected in the facility in Tampa, Florida where the drug was meant to be manufactured; specifically highlighting issues in Good Morning Practices (CGMP).

However, “Since the...