RBC Capital raised the firm’s price target on Exelixis (EXEL) to $38 from $34 and keeps an Outperform rating on the shares. Zanzalintinib stands out as Exelixis’ most clinically advanced asset with potential to become a primary contributor in the medium to long term, says the analyst, who is incorporating zanza into the firm’s valuation. The firm sees the nearest opportunity in metastatic colorectal cancer and incorporates the valuation in mCRC into its model at a 40% odds of success, the analyst tells investors.
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