Morgan Stanley analyst Sean Laaman maintained a Buy rating on Exelixis on December 5 and set a price target of $45.00.
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Sean Laaman has given his Buy rating due to a combination of factors surrounding Exelixis’s potential in the oncology market. The discussion with a key opinion leader (KOL) highlighted the evolving treatment landscape for metastatic colorectal cancer (mCRC), where Exelixis’s drug, zanzalintinib (zanza), is being considered. Despite some reservations about its current adoption due to patient tolerance issues, there is optimism about zanza’s potential in patients without liver metastases and its evaluation in other cancer types.
Furthermore, the KOL noted the unmet needs in the mCRC treatment space, particularly regarding the durability and clinical benefit of existing therapies. This presents an opportunity for Exelixis to introduce new drugs that could potentially move into earlier lines of treatment. The upcoming virtual R&D Day hosted by Exelixis is expected to shed more light on their research and development progress, which could further bolster investor confidence in the company’s growth prospects.
According to TipRanks, Laaman is a 5-star analyst with an average return of 12.1% and a 66.06% success rate. Laaman covers the Healthcare sector, focusing on stocks such as Jazz Pharmaceuticals, Exelixis, and Neurocrine.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $51.00 price target.