Barclays Raises Exelixis Target to $44; FDA Accepts Zanzalintinib NDA
Barclays boosted its Exelixis price target to $44 from $41 and kept an Equal Weight rating ahead of fiscal Q4 earnings. The FDA accepted the NDA for zanzalintinib combined with atezolizumab in previously treated metastatic colorectal cancer, assigning a standard review with a December 3, 2026 PDUFA date.
1. Barclays Raises Price Target
On February 4, Barclays increased its price target on Exelixis to $44 per share from $41 and maintained an Equal Weight rating as part of its fiscal Q4 earnings preview, signaling moderate confidence in the company’s near-term growth prospects.
2. FDA Accepts NDA for Zanzalintinib
On February 2, Exelixis announced U.S. FDA acceptance of its New Drug Application for zanzalintinib in combination with atezolizumab for previously treated metastatic colorectal cancer patients, with a standard review and a Prescription Drug User Fee Act target action date of December 3, 2026, setting the stage for potential market entry.