Why Exelixis (EXEL) is a Top Healthcare Stock Under $50

Exelixis, Inc. (NASDAQ:EXEL) is one of top healthcare stocks priced below $50 for investmentOn February 4, Barclays adjusted the price target for Exelixis, Inc. (NASDAQ:EXEL) to $44, up from $41, while keeping the Equal Weight rating for the stock. This change was included in a fiscal Q4 earnings outlook for the biotechnology sector.

In a separate update, Exelixis, Inc. (NASDAQ:EXEL) revealed on February 2 that its New Drug Application (NDA) for zanzalintinib, when used with atezolizumab, has been accepted for evaluation in the U.S. This treatment is intended for adult patients with metastatic colorectal cancer who have already undergone fluoropyrimidine-, oxaliplatin- and irinotecan-based chemotherapy, and, if they have RAS wild-type status, an anti-epidermal growth factor receptor therapy.

Dana T. Aftab, Ph.D., Executive Vice President of Research and Development at Exelixis, Inc. (NASDAQ:EXEL), mentioned that zanzalintinib could represent a major breakthrough in a difficult therapeutic area, offering a new mode of action when used alongside atezolizumab for patients with metastatic colorectal cancer who have already undergone prior treatment, provided it receives approval. The company noted that the Food and Drug Administration has set a standard review process with a Prescription Drug User Fee Act target action date of December 3, 2026.

Exelixis, Inc. (NASDAQ:EXEL) is engaged in the discovery, development, and marketing of innovative treatments for cancers that are challenging to manage. The company's range of products consists of cabometyx, cometriq, and cotellic.

Although we recognize the potential for EXEL to expand, our confidence is rooted in the idea that certain AI stocks offer better prospects for higher gains with less risk. If you're seeking an AI stock that is more promising than EXEL and has the potential for 100 times growth, review our report on this subject.cheapest AI stock.

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Disclaimer: None. This article was first published atInsider Monkey.