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March 30 - Trading List: Updates, Analyst Actions, Our Take - EPZM, EXEL

Notable updates, news, or analysts actions from our trading lists followed by 'Our Take'.


Epizyme initiated with an Outperform at Credit Suisse

Credit Suisse analyst Brad Canino initiated coverage of Epizyme with an Outperform rating and $13 price target. The analyst believes the stock is pricing a conservative Tazverik commercial outlook for the current follicular lymphoma indication, which he says "provides long-term upside optionality from new disease approvals." Canino is constructive on the Phase 3 second-line ollicular lymphoma trial in combination with Revlimid/Rituxan.

Our Take:  "Little mid-cap biotech with some nice potential. A bit volatile, so there are trading opportunities in this one. Buy dips/Sell peaks. Use the options."


Exelixis initiated with an Outperform at Credit Suisse

Credit Suisse analyst Brad Canino initiated coverage of Exelixis with an Outperform rating and $30 price target. The analyst sees opportunity in the front-line renal cell carcinoma upcoming launch for Cabometyx/Opdivo based on his U.S. physician survey that suggests the regimen will gain one-third of the market. Exelixis management's 2022 U.S. Cabometyx sales guidance will be surpassed and the stock will respond positively to increasing estimates this year, Canino tells investors in a research note.

Our Take:  "This is one of our definite favorites. A biotech that is making good earnings. We would buy on any dips or weakness. Would also enter the stock by selling some naked puts."


$EXEL, Exelixis, Inc. / H1



Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.


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