Exelixis, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ashwani Verma from UBS maintained a Buy rating on the stock and has a $35.00 price target.
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Ashwani Verma has given his Buy rating due to a combination of factors that highlight the potential growth and strategic positioning of Exelixis. One of the key elements is the anticipation of the STELLAR-303 data, which is expected to be a significant catalyst for the company. Although there are concerns about the potential downside in the upcoming Zanza readout, the overall outlook remains positive, particularly with the diversification of Exelixis’s pipeline and the growth prospects of Zanza.
Additionally, the company’s financial projections, despite a slight reduction in third-quarter product revenues due to increased 340B utilization, still reflect a robust performance. The management’s confidence in maintaining their fiscal year 2025 revenue guidance further supports the Buy rating. The strategic focus on expanding the market presence of Cabo and the potential for Zanza to drive future revenues are pivotal in Ashwani Verma’s positive outlook for Exelixis.
According to TipRanks, Verma is a 3-star analyst with an average return of 5.0% and a 46.85% success rate. Verma covers the Healthcare sector, focusing on stocks such as United Therapeutics, ACADIA Pharmaceuticals, and Exelixis.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $45.00 price target.