As previously reported, Credit Suisse analyst Geoffrey Weiner initiated coverage of Exelixis with an Outperform rating and $29 price target. Cabozantinib is Exelixis’ core product franchise and is a market leader in the treatment of advanced kidney cancer. Based on the firm’s conversations with key opinion leaders and analysis of the renal cell carcinoma landscape, Credit Suisse projects product sales could grow to about $2B in 2025, even without potential label expansions. After the recent court decision affirming 2026 as the backstop for cabo exclusivity, the stock is likely trading with low expectations for 2030, the firm adds.
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