Stock of the Day - July 26, 2021

Exelixis (EXEL)

$62.17

-$0.66 (-1.0%)

Market Cap: $15.41B

About Exelixis

Exelixis, Inc., an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.

Its CABOMETYX and COMETRIQ are derived from cabozantinib, an inhibitor of multiple tyrosine kinases, including MET, AXL, RET, and VEGF receptors. The company also offers COTELLIC, an inhibitor of MEK as a combination regimen to treat specific forms of advanced melanoma; and MINNEBRO, an oral non-steroidal selective blocker of the mineralocorticoid receptor for the treatment of hypertension in Japan. It develops zanzalintinib, a novel, potent, next-generation oral tyrosine kinase inhibitor (TKI) that targets VEGF receptors, MET and the TAM kinases (TYRO3, AXL and MER); and XB002, a next-generation tissue factor (TF)-targeting ADC, administered via intravenous infusion and composed of a human monoclonal antibody (mAb) against TF that is conjugated to an auristatin-based microtubulin inhibitor (MTI) payload. It has research collaborations and license agreements with Ipsen Pharma SAS; Takeda Pharmaceutical Company Ltd.; F. Hoffmann-La Roche Ltd.; Redwood Bioscience, Inc.; R.P. Scherer Technologies, LLC; Catalent Pharma Solutions, Inc.; NBE Therapeutics AG; Aurigene Discovery Technologies Limited; Iconic Therapeutics, Inc.; Invenra, Inc.; StemSynergy Therapeutics, Inc.; Genentech, Inc.; Bristol-Myers Squibb Company; and Daiichi Sankyo Company, Limited, as well as clinical development agreement with Sairopa B.V. for ADU-1805. The company was formerly known as Exelixis Pharmaceuticals, Inc. and changed its name to Exelixis, Inc. in February 2000. Exelixis, Inc. was incorporated in 1994 and is headquartered in Alameda, California.

Today's Trend

Exelixis, Inc. (NASDAQ: EXEL) is receiving mixed analyst commentary. Shares are trading near their 52-week high, while several updated price targets remain below the market price, creating both optimism around the pipeline and concern about valuation.

RBC said Exelixis’ experimental cancer drug zanzalintinib has a high likelihood of success in ongoing clinical trials. Positive trial expectations could support the company’s future growth prospects beyond its established cabozantinib franchise. Exelixis' Zanzalintinib Clinical Trials for Cancer Highly Likely to Succeed, RBC Says
Truist raised its Exelixis price target to $54 from $52, citing its updated view of the company’s outlook. Zacks Research also modestly increased its FY2028 earnings-per-share estimate to $4.22 from $4.21, indicating stable long-term earnings expectations. Exelixis Stock Gets a Higher Truist Target at USD 54
RBC subsequently lifted its target to $51 from $45 but maintained a Sector Perform rating. Truist continues to rate the stock Hold. Although the target increases are constructive, both targets remain well below the current share price, limiting their immediate bullish impact. RBC Raises Price Target on Exelixis to $51 From $45, Keeps Sector Perform Rating
RBC previously cut its target to $45 from $46, while commentary questioned whether Exelixis is fully valued as the patent-protection window for cabozantinib comes into focus. Potential future competition and reliance on the core product could weigh on valuation. Is Exelixis Fully Valued as Its Cabozantinib Patent Window Comes Into Focus?

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Exelixis (EXEL)

About Exelixis

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