H.C. Wainwright Reiterates Buy Rating on Exelixis (EXEL)

H.C. Wainwright analyst Robert Burns reiterated a Buy rating and $52.00 price target on Exelixis (NASDAQ: EXEL).

The analyst commented: "Yesterday, Exelixis announced that its New Drug Application (NDA) for zanzalintinib, in combination with atezolizumab (Tecentriq), has been accepted for review in the U.S. to treat adult patients with metastatic colorectal cancer (mCRC) who have been previously treated with fluoropyrimidine-, oxaliplatin- and irinotecan-based chemotherapy, and, if RAS wild-type, an anti-epidermal growth factor receptor (EGFR) therapy. The FDA assigned a standard review with a Prescription Drug User Fee Act target action date of December 3, 2026. The NDA is based on the results of the Phase 3 STELLAR-303 pivotal trial, in which zanzalintinib plus atezolizumab displayed a statistically significant improvement in overall survival (OS) vs. regorafenib in the intention-to-treat (ITT) population of patients with previously treated mCRC. In the wake of this news, we reiterate our Buy rating and 12-month price target of $52."

For an analyst ratings summary and ratings history on Exelixis click here. For more ratings news on Exelixis click here.

Shares of Exelixis closed at $42.59 yesterday.

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