Being called overvalued by one analyst does not mean that Exelixis (EXEL) is, indeed, overvalued. We believe it is not and that’s why we decided to accumulate the stock on any weaknesses in EXEL. We do not intend to sell this stock at this time for what we believe are the wrong reasons. Some bloggers tried to interpret the reasons that led to the downgrade, citing several possibilities none of them hold water. Among others, reiterated the story about Bristol-Myers (BMY) halting a late-stage clinical trial of the combination of its Immuno . . .