Exelixis stock price target raised to $41 from $38 at Stifel on NET launch

Investing.com - Stifel raised its price target on Exelixis (NASDAQ:EXEL) to $41.00 from $38.00 on Tuesday, while maintaining a Hold rating on the biopharmaceutical company’s stock. The company, currently valued at $10.15 billion, has demonstrated remarkable financial strength with a perfect Piotroski Score of 9, according to InvestingPro data.

The price target increase primarily reflects upwardly revised probability of success estimates for zanza in NLM mCRC (metastatic colorectal cancer), according to Stifel’s analysis.

Exelixis reported Cabometyx sales that slightly missed Stifel’s and Street expectations, with the company’s second-line neuroendocrine tumor (NET) launch contributing approximately 4% in volume, translating to about $21 million in revenue, which may temper enthusiasm following last quarter’s beat.

Stifel identified the pending disclosure of final median overall survival data from the STELLAR-303 trial (atezo/zanza in third-line metastatic colorectal cancer) in non-liver metastasis patients as the most important near-term catalyst for Exelixis, with complete trial data presentation expected at an upcoming medical conference.

The research firm also noted that Exelixis’s discontinuation of the STELLAR-305 trial (pembro/zanza in first-line SCCHN) appears prudent given competitive positioning and emerging safety and tolerability data for zanza, particularly regarding hypertension.

In other recent news, Exelixis Inc . reported its second-quarter 2025 earnings, revealing an earnings per share (EPS) of $0.75, which exceeded analysts’ expectations of $0.64. The company’s revenue, however, came in at $568 million, slightly below the anticipated $578.46 million. Despite this revenue miss, the positive earnings report reflects strategic advancements within the company. JMP Securities has reiterated its Market Outperform rating for Exelixis, maintaining a price target of $50.00. This decision comes despite a slight miss in net cabozantinib sales, which the firm attributed to new pricing dynamics. JMP Securities noted that the volume growth for cabozantinib remains robust at 18% year-over-year. The firm projects cabozantinib to achieve fiscal year 2025 sales of $2.1 billion, with a long-term sales target of $3 billion. These recent developments highlight the company’s potential for growth despite current challenges.

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