Wells Fargo downgraded Exelixis (EXEL) to Equal Weight from Overweight with an unchanged price target of $36. While there is a better chance than not that zanzalintinib’s STELLAR-303 trial in metastatic colorectal cancer will be positive in the second half of 2025, it seems priced in at these share levels, the analyst tells investors in a research note. As such, Wells sees a more balanced risk/reward in 2025 for Exelixis. With the shares up 71% in the past 12 months, it is time to take profits and move to the sidelines given the more balanced risk/reward at these levels, contends Wells.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EXEL:
- Exelixis downgraded to Equal Weight from Overweight at Wells Fargo
- Exelixis announces final five-year follow-up results from CheckMate -9ER
- Exelixis Hold Rating Maintained Amidst Stable Financials and Awaited Trial Data
- Exelixis Earnings Call: Positive Growth and Ambitious Goals
- Exelixis price target raised to $38 from $34 at TD Cowen
Questions or Comments about the article? Write to editor@tipranks.com