William Blair analyst Andy Hsieh has maintained their bullish stance on EXEL stock, giving a Buy rating on April 21.
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Andy Hsieh has given his Buy rating due to a combination of factors tied to Exelixis’s commercial strength and clinical momentum. He believes the slower-than-anticipated event rate in the Phase III STELLAR-304 trial of zanzalintinib plus Opdivo in non-clear cell renal cell carcinoma is an encouraging signal, especially given supportive prior data from PAPMET and Merck’s KEYNOTE-B61 that validate this therapeutic approach.
He also highlights the durability of the Cabometyx franchise, which continues to generate substantial revenue despite temporary headwinds from inventory dynamics and higher gross-to-net adjustments. After normalizing for these seasonal effects, he views underlying demand as solid, and he sees incremental shareholder value from Exelixis’s substantial ongoing share repurchase program, including a new $750 million authorization through 2027.
In another report released on April 21, Goldman Sachs also maintained a Buy rating on the stock with a $50.00 price target.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EXEL in relation to earlier this year.