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HomeBusinessExelixis Initiated at Buy with Promising Growth Outlook

Exelixis Initiated at Buy with Promising Growth Outlook

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Brookline Capital Markets analysts initiated coverage of Exelixis (NASDAQ:EXEL) with a Buy rating, highlighting the biotech company’s strong commercial presence and growth potential across its drug portfolio and pipeline. The firm sees significant upside, projecting Exelixis could reach a valuation of $40 per share within the next 12 to 18 months.
Exelixis, a commercial-stage biotechnology company, is expected to continue expanding its key therapies, Cabometyx and Cometriq, while its partner Genentech advances Cotellic. The company’s robust early-stage pipeline also holds potential for future growth. The analysts estimate that Exelixis’ total revenue could grow at a compound annual growth rate (CAGR) of 15% over the next 7 to 10 years, reaching $7.1 billion by 2033.
Key drivers of this growth include additional indications for Cabometyx and the anticipated commercialization of a new pipeline product within the coming years. The analysts expect total product sales to grow to $6.7 billion by 2033, assuming successful execution. However, as with all development-stage biotech companies, these estimates carry inherent risks related to clinical development and market adoption.

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