Exelixis, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Robert Burns from H.C. Wainwright reiterated a Buy rating on the stock and has a $54.00 price target.
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Robert Burns has given his Buy rating due to a combination of factors tied to Exelixis’s solid financial performance and strengthened outlook. The company’s latest quarterly results exceeded his prior earnings expectations, largely because of lower tax expenses, while revenue and operating costs tracked close to his models, leading him to nudge his 2026 earnings forecast higher and raise the 12‑month price target to $54.
Burns also emphasizes a robust pipeline and a dense schedule of clinical and regulatory milestones that could unlock additional value beyond cabozantinib. Multiple Phase 3 and other late-stage readouts for zanzalintinib and early data from XB628, together with a potential FDA decision for a key colorectal cancer indication, underpin his view that sentiment around the company’s emerging oncology portfolio should drive meaningful upside in the near to medium term.
According to TipRanks, Burns is a 4-star analyst with an average return of 9.8% and a 44.58% success rate. Burns covers the Healthcare sector, focusing on stocks such as Exelixis, Nuvation Bio, and Cogent Biosciences.
In another report released yesterday, TipRanks – OpenAI also reiterated a Buy rating on the stock with a $50.00 price target.