Exelixis (EXEL) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
EXEL loses 5% after Oppenheimer downgrades its rating to Perform from Outperform on concerns about the potential differentiation of pipeline candidate zanzalintinib versus cabozantinib following the abstract for STELLAR-001 study.
Shares of oncology company Exelixis, Inc. (EXEL) gaining on rising revenue, pipeline progress.
Investors interested in Medical - Biomedical and Genetics stocks are likely familiar with Exelixis (EXEL) and Techne (TECH). But which of these two companies is the best option for those looking for undervalued stocks?
Exelixis (EXEL) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
EXEL reports preliminary 2024 revenues. The company also provides guidance for 2025 and other pipeline updates.
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EXEL's sNDA seeking approval of cabozantinib for the treatment of pancreatic neuroendocrine tumors will not be discussed at an ODAC.
Exelixis' stock has surged over 45% since my "Sell" rating given in March last year, driven by strong performance of cabozantinib, which remains a leading TKI for various cancers. Despite concerns over cabozantinib's patent expiry, Exelixis projects robust future revenues, with lead pipeline candidate zanzalintinib showing potential to offset future revenue losses. Exelixis is optimistic about new approvals for cabozantinib in neuroendocrine tumors and has promising pipeline assets besides zanzalintinib in various cancer indications.
Citi keeps a Buy rating on Exelixis with a $38 price target after the company announced that it has been notified by the FDA that the application for Cabometyx for the treatment of previously treated advanced pancreatic neuroendocrine tumors and advanced extra-pancreatic neuroendocrine tumors will no longer be a subject of discussion at the March oncologic drugs advisory committee meeting. "While no specific information on the catalyst has been disclosed, we view the shift as positive," the analyst tells investors in a research note. The firm expects the FDA determined there is no need for the panel given the strength in Cabometyx's CABINET dataset. The firm highlights that the FDA action date remains scheduled for April 3.
EXEL's shares surge 50% in a year on the back of the strong performance of its lead drug Cabometyx. We are optimistic about the stock as we believe there is room for further growth.
Investors with an interest in Medical - Biomedical and Genetics stocks have likely encountered both Exelixis (EXEL) and Incyte (INCY). But which of these two stocks is more attractive to value investors?