Morgan Stanley analyst Sean Laaman raised the firm’s price target on Exelixis (EXEL) to $47 from $40 and keeps an Overweight rating on the shares. Exelixis beat Street revenue estimates by about $50M in Q1, but “only” raised FY25 guidance by $100M following strong Cabometyx dynamics, the analyst tells investors. Exelixis excludes any “Cabo in NET” contribution from the outlook, though the firm understands the launch has “progressed very well,” the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EXEL:
- Exelixis price target raised to $38 from $36 at Stifel
- Exelixis Hold Rating: Strong Performance and Promising Pipeline Balanced by Fair Valuation
- Exelixis price target raised to $46 from $41 at Citizens JMP
- Exelixis: Strong Financial Performance and Market Position Justify Buy Rating
- Exelixis Reports Strong Q1 2025 Financial Performance