EXEL Price Prediction Next Week
Based on the available data and recent market movements, here's a comprehensive analysis and price prediction for EXEL for the next trading week:
Technical Analysis
The stock is currently trading at $34.40, showing a positive momentum with RSI at 47.44, indicating a neutral position with room for upward movement. The stock is trading above both its 20-day moving average ($34.07) and 200-day moving average ($27.79), suggesting a strong long-term uptrend.
Recent Developments Morgan Stanley recently upgraded EXEL to Overweight from Equal Weight with a price target of $40, suggesting a potential upside of approximately 16% from current levels. The upgrade was based on an "undemanding" valuation, indicating the stock might be undervalued at current levels.
Additionally, positive clinical trial results from the CABINET trial for cabozantinib in treating neuroendocrine tumors have shown promising outcomes. The drug demonstrated a 50% increase in progression-free survival compared to placebo, with FDA approval anticipated by April 2025.
Price Targets for Next Week Based on Fibonacci levels:
- Resistance levels: R1: $33.98, R2: $34.44, R3: $35.18
- Support levels: S1: $32.50, S2: $32.04, S3: $31.30
- Pivot point: $33.24
Prediction and Recommendation Given the technical indicators and positive fundamental catalysts:
- Base case target: $35.20 (R3 level)
- Stop loss: $32.04 (S2 level)
RECOMMENDATION: BUY Entry point: Current market price ($34.40) The combination of strong technical setup, positive analyst sentiment, and upcoming FDA catalyst suggests a bullish outlook for next week. The stock shows potential for a 2-3% upside movement with limited downside risk due to strong support levels.
EXEL Similar Chart Price Prediction
The price of EXEL is predicted to go up -12.39%, based on the high correlation periods with BATL. The similarity of these two price pattern on the periods is 94.98%.
EXEL
BATL
Down: -12.39%Similarity: 94.98%
EXEL Revenue Forecast
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EXEL VS S&P500
Cabozantinib has been effective in a variety of cancers, including kidney, liver, and thyroid cancers, and label expansions could further expand the drug's market opportunity.
Partnerships allow Exelixis to receive milestones and economic benefits from drug candidate progression while offsetting some of the clinical development costs.
Exelixis' collaborations with large pharma players such as Roche/Genentech and Bristol lend credibility to the firm's potential.
EXEL Analyst's Forecast
Jay Olson
Oppenheimer
Buy
2025-01-16
Price Target
$38 → $41
Upside
+12.18%
Oppenheimer analyst Jay Olson raised the firm's price target on Exelixis to $41 from $38 and keeps an Outperform rating on the shares after the company provided preliminary FY24 financial results and business updates, including 2025 guidance and key priorities. With the cabo patent overhang removed and clinical progress in 2024, the firm sees the key catalysts for Exelixis in 2025 as the FDA's decision on cabo's label-expansion in NETs and zanza clinical readouts across trials.
Asthika Goonewardene
Truist Securities
Strong Buy
2025-01-15
Price Target
$38 → $42
Upside
+12.69%
Silvan Tuerkcan
JMP Securities
Buy
2025-01-15
Price Target
$34 → $41
Upside
+10.01%
