William Blair analyst Andy Hsieh has maintained their bullish stance on EXEL stock, giving a Buy rating today.
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Andy Hsieh’s rating is based on the anticipation of the upcoming detailed results from the Phase III STELLAR-303 trial, which are expected to be presented at the European Society for Medical Oncology annual meeting. The trial examines the efficacy of zanzalintinib combined with Tecentriq compared to Stivarga in patients with metastatic colorectal cancer. Initial results have shown that the trial met one of its primary endpoints, indicating a potential for improved overall survival rates.
Despite some caution due to the competitive landscape and the risk/reward profile leaning slightly negative, Andy Hsieh maintains an optimistic outlook on the potential clinical and commercial applications of zanzalintinib. The detailed data, expected to align with existing treatments like Fruzaqla, could solidify the drug’s role in treatment regimens, thus supporting the Buy rating for Exelixis’s stock.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $44.00 price target.