On Oct 17, major Wall Street analysts update their ratings for $Exelixis (EXEL.US)$, with price targets ranging from $30 to $34.
Morgan Stanley analyst Jeffrey Hung maintains with a hold rating, and maintains the target price at $30.
Stifel analyst Stephen Willey maintains with a hold rating, and maintains the target price at $30.
Truist Financial analyst Asthika Goonewardene maintains with a buy rating, and maintains the target price at $33.
JMP Securities analyst Silvan Tuerkcan maintains with a buy rating, and maintains the target price at $34.
Furthermore, according to the comprehensive report, the opinions of $Exelixis (EXEL.US)$'s main analysts recently are as follows:
The recent judicial decision 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 largely favorable as it ensures patent protection until 2030. Nevertheless, the ruling did not reach the most optimistic scenario which would have extended patent protection until 2032.
The recent ruling securing Cabometyx patent protection until 2030 has presented a renewed outlook for the company's shares. The progress of the company's pipeline is now emerging as a key factor for the stock's valuation. The extension of Cabo's exclusivity and the resulting improved outlook for the stock has led to increased optimism.
The recent resolution of the MSN Laboratories litigation is deemed an incremental boon for Exelixis, enhancing the predictability of Cabometyx's market exclusivity and granting the company a clearer perspective on future business development endeavors. The potential of zanzalintinib is seen as a significant element in the firm's strategy to evolve its business model following Cabometyx. Furthermore, the newly formed partnerships with a major pharmaceutical company are viewed with interest.
Following a legal ruling that MSN infringed on certain polymorph patents, it's believed that the validity of the claims for all involved patents stands. This development suggests that each additional year of intellectual protection for Cabometyx could translate into significant free cash flow. The outcome may prompt investors to take a closer look at zanza and other assets in the pipeline.
Here are the latest investment ratings and price targets for $Exelixis (EXEL.US)$ from 4 analysts:
Note:
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