Jefferies analyst Akash Tewari maintained a Buy rating on Exelixis (EXEL – Research Report) yesterday and set a price target of $42.00.
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Akash Tewari has given his Buy rating due to a combination of factors that highlight Exelixis’s strong financial performance and growth potential. The company exceeded expectations in the first quarter with higher-than-anticipated product revenues, driven by increased volume and pricing. Management has also raised their revenue guidance for 2025, reflecting confidence in continued strong performance, particularly in renal cell carcinoma (RCC) sales.
Furthermore, Exelixis is strategically positioned to navigate potential risks in the pharmaceutical sector, such as tariffs, and is actively engaging in share buybacks, which signals confidence in its own valuation. The company’s growth prospects are bolstered by ongoing and planned pivotal trials for their product Zanza, with promising data expected in the coming years. These elements combined suggest a positive outlook for Exelixis, justifying the Buy rating.
Tewari covers the Healthcare sector, focusing on stocks such as Pfizer, Eli Lilly & Co, and Jazz Pharmaceuticals. According to TipRanks, Tewari has an average return of 3.2% and a 38.11% success rate on recommended stocks.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $47.00 price target.