Exelixis initiated by Global Crown at underweight

Exelixis Inc. coverage was initiated by Global Crown Capital analyst Kate Winkler at an underweight rating. Exelixis has an extensive but still nascent pipeline of proprietary products that are only arguably differentiated from competitors' later-stage cancer drugs, Global Crown said. Exelixis shares Tuesday gained $0.23, or 2.74%, to $8.61 on volume of 327,599 shares versus the three-month running average of 369,717 shares.

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