Better Buy: AnaptysBio vs. Exelixis
Outcomes from clinical trial results can propel a biotech's stock price positively or negatively, regardless of the size of the company. Currently, biotech investors are eagerly awaiting data from AnaptysBio (NASDAQ: ANAB), which has a $435 million market cap, on a drug that recently fell short in a clinical trial for a different disease. Meanwhile, $8 billion Exelixis (NASDAQ: EXEL) just announced positive pivotal trial results, sending its shares higher. Does that mean Exelixis stock is fully valued? Which is the better buy today? Let's dig in.
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On Monday, Exelixis' stock jumped by more than 20%, adding roughly $1.5 billion in value to the company. The cause? Exelixis and Bristol Myers Squibb (NYSE: BMY) unveiled new clinical trial results that could become the standard treatment for patients with previously untreated advanced renal cell carcinoma (RCC, a form of kidney cancer).
Source Fool.com
