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Shane Skinner has invested in biotech companies for almost 20 years and placed over $2.6 million in biotech stock trades in 2013. He has held various financial leadership positions over the past 17 years throughout the United States and Europe including Chief Financial Officer. Shane graduated... More
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  • Exelixis Upgraded By Piper Jaffray 2 comments
    Apr 4, 2014 12:27 PM | about stocks: EXEL

    Exelixis (NASDAQ:EXEL) received an upgrade from Piper Jaffray this morning to buy with a price target of $11. The firm believes that the market has "washed out" it's lead drug in phase 3 development for prostate cancer. As I recently blogged, I believe in Exelixis' long term potential as they have a number of other shots on goal including phase 3 trials in HCC and RCC with the same compound as well as a phase 3 compound partnered with Roche in Melanoma which will report results later this year.

    Disclosure: I am long EXEL.

    Themes: Biotechnology Stocks: EXEL
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  • sharkboy
    , contributor
    Comments (6) | Send Message
     
    please explain "washed out"

     

    thanks
    7 Apr 2014, 04:49 AM Reply Like
  • BiotechInvestor.com
    , contributor
    Comments (25) | Send Message
     
    Author’s reply » Hi sharkboy. The analyst used this term and interpret it by meaning that the market has removed the chances of a positive prostate result from the COMET trial. Thank you for the questions, Shane
    7 Apr 2014, 11:55 AM Reply Like
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