Intel stock spikes after report of possible US government stake
Investing.com - H.C. Wainwright lowered its price target on Exelixis (NASDAQ:EXEL) to $46.00 from $53.00 on Tuesday, while maintaining a Buy rating on the stock. According to InvestingPro data, analyst targets for the stock range from $36.00 to $60.00, with the company currently trading at $37.41 and showing signs of being undervalued.
The firm’s decision follows Exelixis’s announcement that it will not proceed to the Phase 3 portion of the STELLAR-305 trial, prompting H.C. Wainwright to remove risk-adjusted revenue projections for zanzalintinib in squamous cell carcinoma of the head and neck (SCCHN).
For the second quarter of 2025, Exelixis reported diluted net income of $0.65 per share, exceeding H.C. Wainwright’s previous forecast of $0.57 per share. The company generated $568.3 million in revenue, with cabozantinib sales accounting for $520.0 million.
Research and development expenses came in at $200.4 million, below the firm’s estimate of $233.5 million, while selling, general and administrative expenses were $134.9 million, slightly above the projected $129.0 million.
H.C. Wainwright has revised its full-year 2025 net earnings projection for Exelixis to $2.30 per share, up from its prior estimate of $2.26 per share, despite the price target reduction related to the trial decision.
In other recent news, Exelixis Inc . reported its second-quarter 2025 earnings, achieving an earnings per share (EPS) of $0.75, which exceeded analysts’ expectations of $0.64. The company’s revenue, however, was slightly below forecasts, coming in at $568 million compared to the projected $578.46 million. Despite the revenue shortfall, Exelixis’ strategic advancements and earnings beat have maintained positive investor sentiment. RBC Capital lowered its price target for Exelixis to $45.00 from $50.00, citing missed revenue expectations as a factor for potential near-term stock weakness. Truist Securities also reduced its price target to $49.00 from $56.00 following mixed results, noting that Cabometyx sales were below both Wall Street and Truist’s estimates. On the other hand, Stifel raised its price target to $41.00 from $38.00 due to increased success estimates for Exelixis’ zanza in metastatic colorectal cancer. JMP Securities reiterated its Market Outperform rating and maintained a $50.00 price target, emphasizing solid volume growth and long-term sales potential for cabozantinib. These developments highlight the varied analyst perspectives on Exelixis amidst its recent financial performance.
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