Exelixis, 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 promising growth potential. The company’s flagship product, Cabometyx, has demonstrated significant success in treating renal cell carcinoma (RCC), capturing substantial market share in both first-line and second-line treatments. This success is attributed to its impressive clinical outcomes, including improvements in overall survival, progression-free survival, and overall response rate.
Furthermore, Exelixis is poised to expand its market presence with the recent launch of its neuroendocrine tumor (NET) indication, which is expected to contribute significantly to future revenue growth. The company’s strategic development of zanzalintinib, designed to complement Cabometyx without cannibalizing its market, also positions Exelixis for continued success. These factors, combined with a favorable market opportunity for NET, support Lebowitz’s optimistic outlook and Buy rating for Exelixis’s stock.
According to TipRanks, Lebowitz is a 4-star analyst with an average return of 7.6% and a 58.02% success rate. Lebowitz covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Cogent Biosciences, and BridgeBio Pharma.
In another report released on August 29, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $43.00 price target.