Citi initiated coverage of Exelixis with a Buy rating and $31 price target. The analyst believes the company’s cancer drug cabozantinib remains a growth story, and could offer upside potential from further growth in kidney cancer treatments as well as label expansion from prostate cancer. In addition, zanzalintinib offers the next leg of growth following cabozantinib’s loss of exclusivity, the analyst tells investors in a research note. The firm sees “intrguing upside optionality” in shares of Exelixis.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on EXEL:
- Exelixis, Arcus team on trial of zanzalintinib-AB521 combo to treat ccRCC
- Exelixis initiates STELLAR-305 trial evaluating zanzalintinib combo for SCCHN
- Exelixis announces initial results from expansion cohort of STELLAR-001 study
- Exelixis narrows FY23 revenue view to $1.825B-$1.85B from $1.775B-$1.875B
- Exelixis reports Q3 adjusted EPS 10c, consensus 15c
