Exelixis, Inc. (NASDAQ:EXEL) is one of the best healthcare stocks under $50 to invest in. On February 4, Barclays revised the price target on Exelixis, Inc. (NASDAQ:EXEL) to $44 from $41 and maintained an Equal Weight rating on the shares, releasing the update as part of a fiscal Q4 earnings preview for the biotech group.
In another development, Exelixis, Inc. (NASDAQ:EXEL) announced on February 2 the acceptance of its New Drug Application (NDA) for zanzalintinib, in combination with atezolizumab, for review in the U.S. to treat adult patients with metastatic colorectal cancer who have been previously treated with fluoropyrimidine-, oxaliplatin- and irinotecan-based chemotherapy, and, if RAS wild-type, an anti-epidermal growth factor receptor therapy.
Dana T. Aftab, Ph.D., Executive Vice President, Research and Development, Exelixis, Inc. (NASDAQ:EXEL), stated that zanzalintinib holds the potential to become a significant advancement in a challenging treatment landscape and provide a novel mechanism of action, in combination with atezolizumab, for patients with previously treated metastatic colorectal cancer if it is approved. Management reported that the Food and Drug Administration assigned a standard review with a Prescription Drug User Fee Act target action date of December 3, 2026.
Exelixis, Inc. (NASDAQ:EXEL) discovers, develops, and commercializes new medicines for difficult-to-treat cancers. Its product portfolio includes cabometyx, cometriq, and cotellic.
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Disclosure: None. This article is originally published at Insider Monkey.
