Exelixis Inc. Sees Surge in Stock Amid Promising Cancer Drug Trials

In a remarkable turn of events, Exelixis Inc., a development-stage biotechnology company specializing in small-molecule therapeutics for cancer and other serious diseases, has witnessed a significant surge in its stock price. The company, which trades on the Nasdaq stock exchange, has been in the spotlight due to promising trial results for its colorectal cancer drug, zanzalintinib.

On June 23, 2025, Exelixis’s stock experienced a notable jump following the release of phase 3 data for zanzalintinib. The data indicated a survival benefit in colorectal cancer patients, sparking excitement among investors and analysts alike. This positive outcome has led to a series of optimistic ratings and price target adjustments from various financial institutions.

UBS highlighted the importance of pipeline diversification in Exelixis’s stock valuation, suggesting that the company’s broad range of therapeutic candidates could drive future growth. Meanwhile, William Blair maintained an “outperform” rating on the stock, citing the success of recent trials. Despite some surprise trial results, Stifel continued to support Exelixis with a steady stock rating.

The enthusiasm was further fueled by reports from Seeking Alpha and Benzinga, which noted that Exelixis’s stock soared following the promising data from the colorectal cancer drug trial. The company’s potential to achieve $5 billion in sales with zanzalintinib has been a significant factor in the stock’s upward trajectory.

Financial analysts have responded positively to these developments. H.C. Wainwright reiterated a “buy” rating on Exelixis stock, setting a target price of $47. Citizens JMP raised its price target to $50 from $47, while Truist increased its target to $55 from $43, citing the cancer drug win as a pivotal factor.

As Exelixis continues to make strides in its mission to treat serious diseases, the market’s response underscores the potential impact of its innovative therapies. With a market capitalization of $11.11 billion and a price-to-earnings ratio of 18.48, the company is poised for further growth, driven by its strategic alliances and successful clinical trials. Investors and industry watchers will undoubtedly keep a close eye on Exelixis as it navigates the promising landscape of biotechnology and cancer treatment.