10 Most Profitable Biotech Stocks to Invest in Now

6. Exelixis, Inc. (NASDAQ:EXEL)

TTM Net Income: $643.57 million

Number of Hedge Fund Holders: 38

Exelixis, Inc. (NASDAQ:EXEL) is one of the most profitable biotech stocks to invest in now. On July 22, Morgan Stanley analyst Sean Laaman maintained a Buy rating on Exelixis, Inc. (NASDAQ:EXEL) and set a price target of $48.00.

The analyst reasoned that Exelixis, Inc. (NASDAQ:EXEL) recently updated its 2025 revenue guidance, increasing it to a $2.25-2.35 billion range after the higher-than-expected sales of Cabo. He attributed this optimistic outlook to the persistent demand growth and new patient starts in first-line renal cell carcinoma (1L RCC).

Laaman also stated that Exelixis, Inc. (NASDAQ:EXEL) reported that it may update its guidance further as the NET launch progresses and additional revenue opportunities become clearer.

Exelixis, Inc. (NASDAQ:EXEL) discovers, develops, and commercializes new medicines for difficult-to-treat cancers. Its product portfolio includes cabometyx, cometriq, and cotellic.