On Oct 16, major Wall Street analysts update their ratings for $Exelixis (EXEL.US)$, with price targets ranging from $27 to $34.
Morgan Stanley analyst Jeffrey Hung maintains with a hold rating, and adjusts the target price from $28 to $30.
Goldman Sachs analyst Chris Shibutani maintains with a sell rating.
BofA Securities analyst Jason Gerberry maintains with a buy rating, and sets the target price at $32.
Citi analyst David Lebowitz maintains with a buy rating, and maintains the target price at $31.
Wells Fargo analyst Derek Archila maintains with a buy rating, and maintains the target price at $32.
Furthermore, according to the comprehensive report, the opinions of $Exelixis (EXEL.US)$'s main analysts recently are as follows:
The recent judgment regarding the Cabometyx MSN II case confirmed that the Malate Salt Patents remain valid and the '349 patent was neither infringed upon nor invalid. This outcome is seen as beneficial because it ensures patent protection until 2030. Although the decision falls shy of the more optimal scenario that could have extended the patent protection until 2032, it still represents a solid victory.
The affirmation of Cabometyx patent protection extending into 2030 has provided a new viewpoint for the company's future, with the progression of its pipeline now serving as a key narrative in driving the stock's value. The extended exclusivity period for Cabo and the improved prospects for the stock contribute to a more optimistic stance.
The recent legal ruling regarding MSN Laboratories litigation is considered a positive development for Exelixis, significantly enhancing the outlook for Cabometyx's patent exclusivity. This provides the company clear insights into prospective business development endeavors. The potential of zanzalintinib is viewed as a crucial element for the company's transition strategy beyond Cabometyx, with recent partnerships also garnering interest.
The affirmation of patent infringement and the validity of claims related to Exelixis' polymorph patents is seen as significantly positive. This development not only reinforces the intellectual protection for Cabometyx, potentially translating into considerable free cash flow, but also may lead to increased investor interest in other assets within the pipeline, including zanza.
Here are the latest investment ratings and price targets for $Exelixis (EXEL.US)$ from 13 analysts:
Note:
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