EXEL - Can This Cancer Stock Maintain Its Momentum?
The stock market continues to be under pressure due to geopolitical tensions and various economic problems. But even in these challenging times, some companies are performing well. For instance, cancer-focused biotech company Exelixis (NASDAQ: EXEL) has run circles around the broader market year to date. While that's great news for the drugmaker and its shareholders, there are also reasons to worry.
With a forward price-to-earnings (P/E) ratio of nearly 19 -- compared to an average multiple of 12 for the biotech industry -- Exelixis' shares don't look cheap. Given how volatile the market has been, the company's stock could drop substantially if it fails to deliver results in line with investors' expectations. Can Exelixis continue beating the market from here on out?
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Can This Cancer Stock Maintain Its Momentum?