Promising Outlook for Exelixis: Buy Rating Backed by Zanzalintinib’s Efficacy and Anticipated Phase III Trial Success

William Blair analyst Andy Hsieh has maintained their bullish stance on EXEL stock, giving a Buy rating on May 15.

Andy Hsieh has given his Buy rating due to a combination of factors, primarily centered around the promising data from Exelixis’s zanzalintinib. The drug has shown consistent efficacy, mirroring the performance of its predecessor, Cabometyx, which bolsters confidence in its potential success.
Hsieh anticipates positive results from the ongoing Phase III trials, STELLAR-303 and STELLAR-304, expected later this year. These trials are crucial as they target third-line colorectal cancer and treatment-naïve non-clear-cell renal cell carcinoma, respectively. The potential for favorable outcomes in these studies supports the optimistic outlook for Exelixis’s stock.

In another report released on May 15, Citi also maintained a Buy rating on the stock with a $56.00 price target.