3 Reasons to Still Buy Exelixis Stock After Its Strong Q2 Performance

3 Reasons to Still Buy Exelixis Stock After Its Strong Q2 Performance

Any way you look at, Exelixis (NASDAQ: EXEL) just reported an impressive second-quarter performance. The biotech posted its second quarter of profitability, with earnings topping Wall Street expectations. Revenue for Cabometyx soared. Exelixis even emerged from the period without a penny of debt. 

Despite all of this good news, Exelixis shares fell on Thursday after the company announced its second-quarter results late Wednesday. Still, though, the stock is up more than 70% so far in 2017. Should investors move on after the biotech's big run-up and solid quarterly update? I'll be the first to admit that I've been leery of just how much the stock can keep up the momentum. However, I think Exelixis remains a stock to buy for the long run. Here are three reasons why.

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Source: Fool.com