From Financial Modeling Prep: 2024-12-26 16:19:00

Brookline Capital Markets analysts initiated coverage on Exelixis (NASDAQ:EXEL) with a Buy rating and a $40 price target, citing potential for sustained revenue growth and product pipeline expansion.

Exelixis, a biotech company, is expected to advance key therapies Cabometyx and Cometriq, while benefiting from the development of Cotellic through its partnership with Genentech. Promising early-stage pipeline could drive long-term growth.

Projected to achieve 15% CAGR in total revenue over 7-10 years, potentially reaching $7.1 billion by 2033. Growth driven by expanding indications for Cabometyx and anticipated commercialization of new pipeline product. Total product sales expected to rise to $6.7 billion by 2033.

Estimates reflect upside potential of Exelixis’ strategy, despite inherent risks. Valuation could reach $40 per share within the next 12-18 months on a probability and investment risk-adjusted basis, according to analysts.



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