Truist raised the firm’s price target on Exelixis (EXEL) to $43 from $42 and keeps a Buy rating on the shares. With more mature overall survival data from a Phase 1 study in hand, the firm is boosting its optimism that the company’s Phase 3 study for Zanza in colorectal cancer – CRC – will be positive in the primary target population of patients where the disease has not spread to the liver, the analyst tells investors in a research note. While this is a subset of the broader CRC population, STELLAR-303 will pave the way for Zanza’s first approval in this niche indication, Truist added.
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