TD Cowen analyst Yaron Werber has assigned their bullish stance on EXEL stock, giving a Buy rating today.
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Yaron Werber has given his Buy rating due to a combination of factors tied to Exelixis’ core cabozantinib (cabo) franchise and capital deployment strategy. Cabo delivered first‑quarter net product revenue modestly ahead of expectations with record new patient starts and rising market share in renal cell carcinoma and neuroendocrine tumors, reinforcing its position as a leading therapy and supporting management’s mid‑term growth outlook.
Werber also points to Exelixis’ robust share‑repurchase activity as a key driver of earnings per share growth, which underpins his decision to lift the price target to $55 from $51. While he views the new zanzalintinib (zanza) combination expansion trials as “show‑me” opportunities following earlier cabo setbacks, he highlights upcoming pivotal zanza readouts in metastatic colorectal cancer and non‑clear cell RCC as important medium‑term catalysts that offer additional upside optionality without undermining the current investment case.
In another report released today, William Blair also reiterated a Buy rating on the stock with a $44.00 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.