3 Reasons to Buy the Dip With Exelixis

In just two days, Exelixis (NASDAQ: EXEL) has lost over 15% of its market cap. The tumble for the once-hot biotech stock started last week with a downgrade of the stock by an analyst at Leerink Partners. It wasn't over anything Exelixis did -- analyst Mike Schmidt said the biotech's fundamentals still appear to be strong. Instead, the concerns were about Exelixis stock's valuation.

Over the last three years, buying Exelixis stock every time it pulled back proved to be a winning strategy. Is that still the case? I think so. Here are three reasons to buy the dip with Exelixis.

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Source: Fool.com