EXEL Stock Forecast

Exelixis, Inc. (EXEL) was a stock pick based on predictive algorithm recommended to I Know First subscribers on November 27th for the 3-months time horizon in the “Investing In Small Cap Stocks” forecast. Exelixis had a signal of 48.32 and a predictability of 0.55. In accordance with the algorithm, the company reported short-term capital gains of 66.48%.

Exelixis, Inc. was part of the stock forecast that can be found in the “Best Small Caps Stocks” Package.

This stock market forecast includes the best stocks determined by the algorithm with a market capitalization of less than a billion dollars.

• 10 Best Small Cap stocks for the long position
• 10 Best Small Cap stocks for the short position

Shares of Exelixis jumped after US regulators said they would give a faster review to the drugmaker’s potential treatment for a deadly form of skin cancer. The Food and Drug Administration granted a priority review for the drug cobimetinib, to be used in combination with other drugs for the treatment of melanoma cancer.

The company provided an update on the drug’s application for approval at the Leerink Swann Global Healthcare Conference on February 11th. Exelixis is working with a development partner Roche Holdings. Using cobimetinib alongside its drug Zelboraf could decrease the risk of disease progression and death from the specific form of cancer.

The stock price of Exelixis was also boosted after Roche Holdings announced its year end results. In the company’s earnings call, it revealed previously unannounced phase 1 studies, including for an anti-PDL1 drug. It utilizes the body’s immune system to help fight cancer, and it would also work with cobimetinib to fight solid tumors. The prospect of cobimetinib being used in combination with a cancer immunotherapy is very exciting for investors.