Exelixis, Inc. (NASDAQ:EXEL) is considered one of the most undervalued NASDAQ stocks to buy now, with Barclays initiating coverage and setting a price target of $40 per share. The firm forecasts the company’s major value driver, cabozantinib, to increase until its patent expiration in 2029. Barclays predicts a slight revenue decrease in 2029 due to lower sales expectations from Exelixis’ pipeline products. Zanzalintinib, the company’s key pipeline candidate, shows promise in improving cancer treatments, but faces challenges in the competitive landscape. Exelixis focuses on developing targeted cancer treatments through molecular therapies.

Read more at Yahoo Finance: Exelixis (EXEL) Rated Equalweight by Barclays Amid Cancer Drug Outlook