Exelixis maintained at market perform by Merrill

Exelixis, Inc. was maintained by Merrill Lynch analyst Charles C. Duncan at market perform. The company reported fourth-quarter 2005 results that were generally in line with consensus but beat Merrill's forecast on the bottom line. Total revenue of $14.4 million, derived from ongoing research support from strategic collaborations, was slightly higher than the analyst's $13.8 million estimate. The company reported a net loss of $24.5 million, or $0.29 per share, compared with Merrill's estimate of a $48.8 million loss, or $0.60 per share, this loss was in line with consensus. Shares of the South San Francisco research services company were up 28 cents, or 2.84%, at $10.13 on volume of 685,980 shares versus the three-month running average of 479,290 shares. (Nasdaq: EXEL)

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