Morgan Stanley analyst Sean Laaman raised the firm’s price target on Exelixis (EXEL) to $47 from $40 and keeps an Overweight rating on the shares. Exelixis beat Street revenue estimates by about $50M in Q1, but “only” raised FY25 guidance by $100M following strong Cabometyx dynamics, the analyst tells investors. Exelixis excludes any “Cabo in NET” contribution from the outlook, though the firm understands the launch has “progressed very well,” the analyst added.
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Read More on EXEL:
- Exelixis price target raised to $38 from $36 at Stifel
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