Piper Sandler analyst Joseph Catanzaro raised the firm’s price target on Exelixis (EXEL) to $37 from $36 and keeps an Overweight rating on the shares. The firm notes Exelixis announced preliminary FY24 earnings, with total revenue of $2.17B and net cabo sales of $1.81B, both in-line with PSC/consensus estimates. More notably, FY25 cabo revenue guidance of $1.95-$2.05B came in nicely ahead of expectations.
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