Stephens & Co. Initiates Coverage On Exelixis with Equal-Weight Rating, Announces Price Target of $23
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 14 2024
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Should l Buy EXEL?
Source: Benzinga
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Analyst Views on EXEL
Wall Street analysts forecast EXEL stock price to rise
16 Analyst Rating
7 Buy
8 Hold
1 Sell
Moderate Buy
Current: 41.950
Low
30.00
Averages
44.09
High
52.00
Current: 41.950
Low
30.00
Averages
44.09
High
52.00
About EXEL
Exelixis, Inc. is an oncology company. The Company has produced four marketed pharmaceutical products, two of which are formulations of its flagship molecule, cabozantinib. It is also advancing and evolving its product pipeline portfolio, including its lead investigational asset, zanzalintinib. Cabozantinib is an inhibitor of multiple tyrosine kinases, including MET, AXL, VEGF receptors and RET and has been also approved as CABOMETYX tablets for advanced renal cell carcinoma, for previously treated hepatocellular carcinoma and for previously treated, radioactive iodine-refractory differentiated thyroid cancer, and as COMETRIQ capsules for progressive, metastatic medullary thyroid cancer. The Company's other two products are COTELLIC, an inhibitor of MEK approved as part of multiple combination regimens to treat specific forms of advanced melanoma and MINNEBRO an oral, non-steroidal, selective blocker of the mineralocorticoid receptor approved the treatment of hypertension in Japan.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
High-Quality Healthcare Stocks Under $50
- Pfizer's Outlook: Pfizer's stock trades around $27 with a P/E ratio of 9, significantly below the healthcare industry's average of 17.8; with a robust pipeline in oncology and chronic weight management, the company is poised for substantial clinical advancements over the next five years, likely improving financial performance and boosting sales.
- Novo Nordisk's Market Potential: Priced at approximately $39 with a P/E ratio of 10.4, Novo Nordisk stands to benefit from the rapidly expanding weight-loss market, positioning itself as a leader in anti-obesity products, which could yield significant returns for patient investors over the next five to ten years.
- Exelixis' Innovative Growth: Exelixis, trading at around $41, has carved a niche in oncology with its Cabometyx therapy, and is expected to report ongoing revenue and earnings growth while developing new drugs to address the patent cliff in 2030, showcasing strong market prospects.
- Attractiveness of Oncology Market: Exelixis's zanzalintinib has shown effectiveness in treating metastatic colorectal cancer, which is the second leading cause of cancer death globally; given this market's potential, the company is likely to enhance its competitiveness through new product transformations.
See More
Amazon Launches Ultra-Fast Delivery Service
- Logistics War Escalation: Amazon has launched one-hour and three-hour delivery services across over 2,000 U.S. cities, covering 90,000 high-frequency items, aiming to boost shopping frequency through new specialized workstations, although Prime members must now pay a $9.99 surcharge, marking a shift from Amazon's traditional 'free shipping' model to a high-margin service.
- Fee Structure Adjustment: The new tiered fee structure ($9.99 for one-hour delivery and $4.99 for three-hour delivery) indicates Amazon's strategy to cover high variable costs of last-mile logistics while striving to maintain overall Prime margins, reflecting its pursuit of profitability amid competition.
- Operational Efficiency Improvement: By deploying predictive AI to pre-position inventory in smaller urban facilities, Amazon is transforming its same-day fulfillment hubs into high-velocity local storefronts, thereby accelerating delivery speeds and enhancing market competitiveness.
- Market Share Competition: This service launch is not only a direct response to Walmart's 'Express Delivery' network but also has the potential to further solidify Amazon's leadership in the e-commerce market by increasing customer loyalty and shopping frequency.
See More
Exelixis Aims to Expand Beyond Cabozantinib Franchise
- Significant Revenue Growth: In 2025, Exelixis reported a 7% revenue increase to $2.3 billion, primarily driven by its cabozantinib franchise, which not only solidifies its market position but also funds future research and development efforts.
- Improved Profitability: Earnings per share (EPS) reached $2.78, up 57.9%, reflecting the company's success in cost control and sales growth, which further boosts investor confidence in its financial health.
- New Drug Application Approval: The FDA approved the New Drug Application for zanzalintinib in combination with atezolizumab for metastatic colorectal cancer on February 2, with a final decision expected by December 3, potentially opening new revenue streams for the company.
- Expanded Partnerships: Exelixis has partnered with companies like Takeda and Ipsen to sell cabozantinib in Japan, while also collaborating with Natera for clinical trials of zanzalintinib, enhancing its market penetration and research capabilities.
See More
Exelixis Aims to Become a Top Oncology Player with Expanding Pipeline
- Drug Diversification: Exelixis' lead drug cabozantinib (Cabometyx and Cometriq) is approved for kidney, thyroid, and liver cancers, and is currently in a phase 3 trial for advanced neuroendocrine tumors in the lung, thymus, and gastrointestinal tract, which is expected to enhance its market share.
- New Drug Approval: The FDA approved zanzalintinib in combination with atezolizumab for metastatic colorectal cancer on February 2, with a final decision on its application due by December 3, which could significantly bolster Exelixis' product portfolio if successful.
- Strategic Partnerships: Exelixis collaborates with Takeda and Ipsen to sell cabozantinib in Japan, and has partnered with Natera to utilize its Signatera assay for identifying colorectal cancer patients, enhancing the efficacy of zanzalintinib's clinical trials.
- Strong Financial Performance: In 2025, Exelixis reported a 7% revenue increase to $2.3 billion, primarily from cabozantinib, with earnings per share (EPS) reaching $2.78, up 57.9%, reflecting the company's robust market performance and profitability.
See More
Global Oncology Market Expected to Reach $748.17 Billion
- Market Growth Potential: The global oncology market is projected to grow from $279.98 billion in 2026 to $748.17 billion by 2035, indicating strong growth potential and reflecting the ongoing demand for cancer treatments.
- Innovation-Driven Revenue: Cancer drug revenues are expected to reach $335.2 billion by 2033, primarily driven by the adoption of targeted therapies and immunotherapy, indicating a significant shift towards more effective treatment options in the industry.
- Clinical Trial Advancements: Oncolytics Biotech is focusing on registrational programs in anal and colorectal cancer, planning to meet with the FDA in mid-April, and expects to secure approval through a clinical trial involving fewer than 100 subjects, showcasing its strategic advantage in rare cancer indications.
- Strong Clinical Results: In third-line anal cancer patients, pelareorep achieved a 29% response rate, while in second-line or later patients, the response rate was 30%, significantly exceeding the benchmark for FDA-approved immunotherapies, highlighting its potential in treatment efficacy.
See More
Global Oncology Market Expected to Reach $748.17 Billion
- Market Growth Potential: The global oncology market is projected to grow from $279.98 billion in 2026 to $748.17 billion by 2035, indicating strong growth potential driven by the rising demand for cancer treatments.
- Drug Revenue Forecast: Cancer drug revenues are expected to reach $335.2 billion by 2033, primarily fueled by the adoption of targeted therapies and immunotherapy, highlighting the urgent need for innovative treatment options in the market.
- Clinical Trial Progress: Oncolytics Biotech announced its focus on registrational programs in anal and colorectal cancer, with plans to meet with the FDA in mid-April 2026 to seek approval in this rare cancer indication, demonstrating its strategic positioning in clinical research.
- Leadership Changes: Oncolytics Biotech recently appointed John McAdory as EVP of Strategy and Operations and Yujun Wu as Head of Biostatistics, further strengthening the company's leadership capabilities and competitive edge in the oncology treatment sector.
See More
High-Quality Healthcare Stocks Under $50
- Pfizer's Outlook: Pfizer's stock trades around $27 with a P/E ratio of 9, significantly below the healthcare industry's average of 17.8; with a robust pipeline in oncology and chronic weight management, the company is poised for substantial clinical advancements over the next five years, likely improving financial performance and boosting sales.
- Novo Nordisk's Market Potential: Priced at approximately $39 with a P/E ratio of 10.4, Novo Nordisk stands to benefit from the rapidly expanding weight-loss market, positioning itself as a leader in anti-obesity products, which could yield significant returns for patient investors over the next five to ten years.
- Exelixis' Innovative Growth: Exelixis, trading at around $41, has carved a niche in oncology with its Cabometyx therapy, and is expected to report ongoing revenue and earnings growth while developing new drugs to address the patent cliff in 2030, showcasing strong market prospects.
- Attractiveness of Oncology Market: Exelixis's zanzalintinib has shown effectiveness in treating metastatic colorectal cancer, which is the second leading cause of cancer death globally; given this market's potential, the company is likely to enhance its competitiveness through new product transformations.
See More
Amazon Launches Ultra-Fast Delivery Service
- Logistics War Escalation: Amazon has launched one-hour and three-hour delivery services across over 2,000 U.S. cities, covering 90,000 high-frequency items, aiming to boost shopping frequency through new specialized workstations, although Prime members must now pay a $9.99 surcharge, marking a shift from Amazon's traditional 'free shipping' model to a high-margin service.
- Fee Structure Adjustment: The new tiered fee structure ($9.99 for one-hour delivery and $4.99 for three-hour delivery) indicates Amazon's strategy to cover high variable costs of last-mile logistics while striving to maintain overall Prime margins, reflecting its pursuit of profitability amid competition.
- Operational Efficiency Improvement: By deploying predictive AI to pre-position inventory in smaller urban facilities, Amazon is transforming its same-day fulfillment hubs into high-velocity local storefronts, thereby accelerating delivery speeds and enhancing market competitiveness.
- Market Share Competition: This service launch is not only a direct response to Walmart's 'Express Delivery' network but also has the potential to further solidify Amazon's leadership in the e-commerce market by increasing customer loyalty and shopping frequency.
See More
Exelixis Aims to Expand Beyond Cabozantinib Franchise
- Significant Revenue Growth: In 2025, Exelixis reported a 7% revenue increase to $2.3 billion, primarily driven by its cabozantinib franchise, which not only solidifies its market position but also funds future research and development efforts.
- Improved Profitability: Earnings per share (EPS) reached $2.78, up 57.9%, reflecting the company's success in cost control and sales growth, which further boosts investor confidence in its financial health.
- New Drug Application Approval: The FDA approved the New Drug Application for zanzalintinib in combination with atezolizumab for metastatic colorectal cancer on February 2, with a final decision expected by December 3, potentially opening new revenue streams for the company.
- Expanded Partnerships: Exelixis has partnered with companies like Takeda and Ipsen to sell cabozantinib in Japan, while also collaborating with Natera for clinical trials of zanzalintinib, enhancing its market penetration and research capabilities.
See More
Exelixis Aims to Become a Top Oncology Player with Expanding Pipeline
- Drug Diversification: Exelixis' lead drug cabozantinib (Cabometyx and Cometriq) is approved for kidney, thyroid, and liver cancers, and is currently in a phase 3 trial for advanced neuroendocrine tumors in the lung, thymus, and gastrointestinal tract, which is expected to enhance its market share.
- New Drug Approval: The FDA approved zanzalintinib in combination with atezolizumab for metastatic colorectal cancer on February 2, with a final decision on its application due by December 3, which could significantly bolster Exelixis' product portfolio if successful.
- Strategic Partnerships: Exelixis collaborates with Takeda and Ipsen to sell cabozantinib in Japan, and has partnered with Natera to utilize its Signatera assay for identifying colorectal cancer patients, enhancing the efficacy of zanzalintinib's clinical trials.
- Strong Financial Performance: In 2025, Exelixis reported a 7% revenue increase to $2.3 billion, primarily from cabozantinib, with earnings per share (EPS) reaching $2.78, up 57.9%, reflecting the company's robust market performance and profitability.
See More
Global Oncology Market Expected to Reach $748.17 Billion
- Market Growth Potential: The global oncology market is projected to grow from $279.98 billion in 2026 to $748.17 billion by 2035, indicating strong growth potential and reflecting the ongoing demand for cancer treatments.
- Innovation-Driven Revenue: Cancer drug revenues are expected to reach $335.2 billion by 2033, primarily driven by the adoption of targeted therapies and immunotherapy, indicating a significant shift towards more effective treatment options in the industry.
- Clinical Trial Advancements: Oncolytics Biotech is focusing on registrational programs in anal and colorectal cancer, planning to meet with the FDA in mid-April, and expects to secure approval through a clinical trial involving fewer than 100 subjects, showcasing its strategic advantage in rare cancer indications.
- Strong Clinical Results: In third-line anal cancer patients, pelareorep achieved a 29% response rate, while in second-line or later patients, the response rate was 30%, significantly exceeding the benchmark for FDA-approved immunotherapies, highlighting its potential in treatment efficacy.
See More
Global Oncology Market Expected to Reach $748.17 Billion
- Market Growth Potential: The global oncology market is projected to grow from $279.98 billion in 2026 to $748.17 billion by 2035, indicating strong growth potential driven by the rising demand for cancer treatments.
- Drug Revenue Forecast: Cancer drug revenues are expected to reach $335.2 billion by 2033, primarily fueled by the adoption of targeted therapies and immunotherapy, highlighting the urgent need for innovative treatment options in the market.
- Clinical Trial Progress: Oncolytics Biotech announced its focus on registrational programs in anal and colorectal cancer, with plans to meet with the FDA in mid-April 2026 to seek approval in this rare cancer indication, demonstrating its strategic positioning in clinical research.
- Leadership Changes: Oncolytics Biotech recently appointed John McAdory as EVP of Strategy and Operations and Yujun Wu as Head of Biostatistics, further strengthening the company's leadership capabilities and competitive edge in the oncology treatment sector.
See More
