Exelixis (EXEL – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst David Lebowitz from Citi maintained a Buy rating on the stock and has a $56.00 price target.
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David Lebowitz has given his Buy rating due to a combination of factors that highlight Exelixis’s potential for growth. The company recently announced promising data from their STELLAR-002 trial, which will be presented at the 2025 ASCO conference. This trial involves Zanzalintinib, a follow-up to their successful cabozantinib therapy, used in combination with Opdivo or Opdivo/Opdualag for treating advanced renal cell carcinoma.
The trial results showed impressive objective response rates and duration of response, suggesting that Zanzalintinib could replicate the success of cabozantinib. Despite some adverse events, the data supports the potential for a successful launch of Zanzalintinib in 2027. Given these positive developments, Lebowitz anticipates a significant share price return of 30.7%, reinforcing his Buy rating on Exelixis’s stock.
Based on the recent corporate insider activity of 111 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.