JMP Securities analyst Silvan Tuerkcan has maintained their bullish stance on EXEL stock, giving a Buy rating yesterday.
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Silvan Tuerkcan’s rating is based on several promising developments for Exelixis, particularly surrounding the potential of zanzalintinib. The company views zanzalintinib as a significant opportunity worth $5 billion, with key clinical trial updates expected in the latter half of 2025. This drug is being positioned not just in comparison to cabozantinib, but as a solution to address specific performance gaps, particularly in tolerability, which have been a challenge for cabozantinib in certain indications.
Furthermore, Exelixis anticipates a catalyst-rich year in 2025, with pivotal updates on zanzalintinib in colorectal and renal cell cancers. In addition, the company is aiming to expand cabozantinib’s label and launch it commercially into neuroendocrine tumors, with a PDUFA date set for April 2025. The company’s revenue guidance for FY25 suggests a year-over-year growth of 10.5%, driven by volume increases despite a slight price decline. These factors combined contribute to Tuerkcan’s positive outlook and Buy rating for Exelixis’s stock.
Tuerkcan covers the Healthcare sector, focusing on stocks such as Exelixis, Relay Therapeutics, and Terns Pharmaceuticals. According to TipRanks, Tuerkcan has an average return of -1.7% and a 34.29% success rate on recommended stocks.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $38.00 price target.