Citi raised the firm’s price target on Exelixis (EXEL) to $56 from $45 and keeps a Buy rating on the shares. The company reported a strong start to the year with total revenue of $555M that easily exceeded consensus by over 12%, the analyst tells investors in a research note. The firm says Exelixis’ follow-on asset zanzalintinib “will have a flurry” of Phase 3 topline readouts in major solid tumor indications in 2025 that could further invigorate sales growth for the company.
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