Morgan Stanley Maintains Overweight Rating For Exelixis, Inc. (EXEL), Price Target Raised To $50

Exelixis, Inc. (NASDAQ:EXEL) is among the Renaissance Technologies Portfolio: 10 Biggest Stocks. On September 17, Morgan Stanley raised the stock’s price target to $50 from $46, while maintaining an Overweight rating for its shares.

In a research note to investors, the analyst noted that Zanzalintinib presents a significant opportunity for the company, with near-term catalysts that could drive further share price upside. The firm mentioned that it was now modelling approximately $4.7 billion in peak unadjusted Zanzalintinib sales across renal cell carcinoma, colorectal, and neuroendocrine tumors.

In other related news, both Goldman Sachs and Barclays recently initiated coverage of Exelixis, Inc. (NASDAQ:EXEL), with Buy and Equal-Weight ratings, respectively, and announced price targets of $47 and $40, respectively.

Overall, Wall Street analysts have a bullish outlook for the stock, with a consensus Buy rating and an average share price upside potential of 11%.

Exelixis, Inc. (NASDAQ:EXEL) is an oncology company focused on the discovery, development, and commercialization of medicines to treat cancer.

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