In a report released yesterday, Sean Laaman from Morgan Stanley maintained a Buy rating on Exelixis (EXEL – Research Report), with a price target of $40.00.
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Sean Laaman has given his Buy rating due to a combination of factors that highlight Exelixis’s strong financial performance and future potential. The company reported first-quarter revenues that exceeded expectations, with total revenues reaching $555.4 million compared to the anticipated $496 million. This positive financial outcome has led Exelixis to revise its 2025 financial guidance upward, projecting total revenues between $2.25 billion and $2.35 billion.
Furthermore, Exelixis is poised for significant developments in its product pipeline, with upcoming presentations at the ASCO 2025 conference. These presentations will feature data on cabozantinib and zanzalintinib, showcasing their potential in treating advanced solid tumors. The combination of strong current performance and promising future prospects underpins Sean Laaman’s Buy rating for Exelixis’s stock.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $44.00 price target.
Based on the recent corporate insider activity of 107 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.
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