Morgan Stanley Maintains a Buy on Exelixis (EXEL) With a $48 PT

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.

Why Exelixis, Inc. (EXEL) Skyrocketed On Wednesday

A team of scientists in lab coats surrounded by pharmaceuticals and medical equipment, researching a life-saving oncology-focused biotechnology.

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.

While we acknowledge the potential of EXEL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EXEL and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.