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Exelixis Inc . (NASDAQ:EXEL) shares soared to a 52-week high of $39.3, reflecting a remarkable year of growth for the biotechnology firm. The company’s financial health is rated as "Excellent" by InvestingPro, supported by impressive metrics including a 96.5% gross profit margin and strong revenue growth of 18.5% in the last twelve months. Investors have rallied behind Exelixis, propelling the stock to new heights as the company continues to report positive developments in its pipeline of cancer treatments. Over the past year, the stock has witnessed an impressive surge, with a 1-year change showing a substantial increase of 74.09%. This bullish trend underscores the market’s confidence in Exelixis’s strategic direction and its potential for sustained growth in the competitive biotech sector. InvestingPro analysis reveals the company has achieved a perfect Piotroski Score of 9, with 13 additional ProTips available to subscribers, indicating strong fundamental performance.
In other recent news, Exelixis has seen a series of updates from analysts and developments in its clinical trials. Truist Securities raised its price target for Exelixis shares to $43, citing optimism around the Phase 3 study for the drug Zanza, particularly for colorectal cancer patients without liver metastases. This follows encouraging data from the Phase 1 STELLAR-001 study, which has bolstered confidence in the drug’s potential success. Meanwhile, Stifel adjusted its price target for Exelixis to $36, maintaining a Hold rating, reflecting factors like operational expenditure growth moderation and the company’s share repurchase program.
JMP Securities maintained a Market Outperform rating with a $41 price target, noting that Exelixis’ fourth quarter 2024 revenue met market expectations. The firm emphasized the potential of zanzalintinib, especially in metastatic colorectal cancer, as a significant opportunity for the company. Stifel also maintained a Hold rating with a $30 target, following new data from the STELLAR-001 trial, which did not alter their outlook on the Phase 3 STELLAR-303 trial’s prospects.
These recent developments indicate that Exelixis is focused on advancing its drug pipeline, particularly with zanzalintinib, which is seen as a potential $5 billion opportunity. The company’s efforts in clinical trials and strategic financial maneuvers like the share repurchase program are closely watched by analysts and investors alike.
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