Company

Bank

Analyst

Coverage

Opinion

Wk chg

1/10 cls

Exelixis Inc. (NASDAQ:EXEL)

Piper Jaffray

Edward Tenthoff

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Overweight (from neutral)

21%

$7.44

Tenthoff also raised his target to $11 from $4.50 on confidence in a positive data readout from the Phase III COMET trial of cabozantinib in castration-resistant prostate cancer (CRPC) either at the interim look in 2Q14 or final overall survival (OS) analysis in 2H14. Tenthoff forecasts total CRPC sales of $226M in 2016, $960M in 2017 and peak sales of $1.7B in 2020. Exelixis markets cabozantinib as Cometriq in the U.S. to treat medullary thyroid cancer.

Idenix Pharmaceuticals Inc. (NASDAQ:IDIX)

UBS

Matthew Roden

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Buy (from hold)

4%

$6.54

Roden also raised his target to $11 from $4, saying Idenix's HCV assets represent a "significant opportunity" for the company. Data from the Phase II HELIX-2 trial evaluating Idenix's samatasvir as part of an all-oral HCV regimen are expected in 2014. Post-data, Roden assumes the market will assign a 70% probability of success for the samatasvir combination. In January 2013, Idenix partnered with Johnson & Johnson (NYSE:JNJ) and Medivir AB (SSE:MVIR B) to develop an all-oral, interferon-free HCV combination therapy. Samatasvir is an HCV NS5A protein inhibitor.