Morgan Stanley Maintains Overweight Rating For Exelixis, Inc. (EXEL), Price Target Raised To $50

Exelixis, Inc. (NASDAQ:EXEL) is among the Renaissance Technologies Portfolio: 10 Biggest Stocks. On September 17, Morgan Stanley raised the stock’s price target to $50 from $46, while maintaining an Overweight rating for its shares.

Morgan Stanley Maintains Overweight Rating For Exelixis, Inc. (EXEL), Price Target Raised To $50

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In a research note to investors, the analyst noted that Zanzalintinib presents a significant opportunity for the company, with near-term catalysts that could drive further share price upside. The firm mentioned that it was now modelling approximately $4.7 billion in peak unadjusted Zanzalintinib sales across renal cell carcinoma, colorectal, and neuroendocrine tumors.

In other related news, both Goldman Sachs and Barclays recently initiated coverage of Exelixis, Inc. (NASDAQ:EXEL), with Buy and Equal-Weight ratings, respectively, and announced price targets of $47 and $40, respectively.

Overall, Wall Street analysts have a bullish outlook for the stock, with a consensus Buy rating and an average share price upside potential of 11%.

Exelixis, Inc. (NASDAQ:EXEL) is an oncology company focused on the discovery, development, and commercialization of medicines to treat cancer.

While we acknowledge the risk and potential of EXEL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EXEL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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