Exelixis price target raised to $45 from $44 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Exelixis (EXEL) to $45 from $44 and keeps an Overweight rating on the shares. Cabo continues to demonstrate sustained demand and the NET launch progresses well with roughly $100M expected in contribution to 2025 net product revenue, the analyst tells investors in a research note. The firm added the company expects to submit the NDA in previously treated mCRC in December 2025, pending the U.S. government re-opening.