Oppenheimer analyst Jay Olson raised the firm’s price target on Exelixis (EXEL) to $41 from $38 and keeps an Outperform rating on the shares after the company provided preliminary FY24 financial results and business updates, including 2025 guidance and key priorities. With the cabo patent overhang removed and clinical progress in 2024, the firm sees the key catalysts for Exelixis in 2025 as the FDA’s decision on cabo’s label-expansion in NETs and zanza clinical readouts across trials.
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