William Blair analyst Andy Hsieh has reiterated their bullish stance on EXEL stock, giving a Buy rating yesterday.
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Andy Hsieh has given his Buy rating due to a combination of factors including Exelixis’s strong financial performance and market position. The company’s first-quarter results exceeded expectations, particularly driven by the robust sales of Cabometyx in the renal cell carcinoma (RCC) market. This performance led to an increase in the company’s 2025 net product revenue guidance by $100 million.
Furthermore, Cabometyx’s market share has grown significantly, with a notable increase in total prescriptions and new patient starts, outpacing competitors. The company’s strategic positioning and the mitigated seasonal dynamics due to its small manufacturer status also contribute to a positive outlook. These elements combined suggest a promising growth trajectory for Exelixis, justifying the Buy rating.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $40.00 price target.