Exelixis price target raised to $29 from $23 at Stephens

Stephens analyst Sudan Loganathan raised the firm’s price target on Exelixis (EXEL) to $29 from $23 and keeps an Equal Weight rating on the shares after the company reported Q3 results and provided regulatory and business updates. The firm remains on the sidelines as it waits to see the company’s ability to execute on “lofty” peak revenue goals set for Cabo and Zanza franchises post-litigation resolution, the analyst tells investors.