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HC Wainwright & Co. reiterated a Buy rating on Exelixis, setting a price target of $29, backed by an average 12-month target of $29.4. Exelixis reported a robust revenue growth rate of over 35% as of June 30, 2024, alongside strong financial metrics, including a net margin exceeding 35%.
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Below are AI-generated insights on moves in the health care/biotechnology sector, powered by MarketReader technology.
Wednesday, September 18
IBB [-0.2%]
Among its holdings, notable declines were observed in BioNTech (BNTX), Vertex Pharmaceuticals (VRTX), Moderna (MRNA), Incyte (INCY), and Exelixis (EXEL). HC Wainwright & Co. reiterated a Buy rating on Exelixis, setting a price target of $29, backed by an average 12-month target of $29.4. Exelixis reported a robust revenue growth rate of over 35% as of June 30, 2024, alongside strong financial metrics, including a net margin exceeding 35%. In the broader market context, the Russell 2000 Index has decreased slightly, which may reflect the prevailing sentiment influencing the IBB's stability.