Truist raised the firm’s price target on Exelixis (EXEL) to $51 from $49 and keeps a Buy rating on the shares after the company provided 2026 updated. The management reinforced its long-term strategy of building a scaled, multi-franchise oncology business, leveraging its commercial playbook from Cabo to replicate success across new tumor areas and modalities, the analyst tells investors in a research note. 2026 will be a pivotal year for Zanzalintinib and potential first commercialization, the firm added.
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Read More on EXEL:
- Exelixis reports preliminary FY25 revenue $2.32B, consensus $2.33B
- Exelixis sees FY26 revenue $2.525B-$2.625B, consensus $2.62B
- Exelixis price target raised to $52 from $49 at H.C. Wainwright
- Exelixis downgraded to Equal Weight from Overweight at Morgan Stanley
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