Core Viewpoint - Top Wall Street analysts have revised their outlook on several prominent stocks, indicating potential shifts in investment sentiment and opportunities in the market [1] Group 1: Analyst Ratings Changes - The article highlights changes in analyst ratings, including upgrades, downgrades, and initiations for various stocks [1] - Specific mention of NXT stock suggests it is under consideration for purchase based on analysts' opinions [1]

Core Insights - Exelixis Inc. stock is experiencing a decline following the release of detailed results from the STELLAR-303 Phase 3 trial, which evaluated zanzalintinib in combination with Roche's Tecentriq against Bayer's Stivarga for metastatic colorectal cancer [1][6] Group 1: Trial Results - The STELLAR-303 trial met one of its dual primary endpoints, showing a 20% reduction in the risk of death in the intention-to-treat population at the final analysis [2] - At a median follow-up of 18 months, median overall survival was 10.9 months for the zanzalintinib and atezolizumab combination compared to 9.4 months for regorafenib [2] - The 12- and 24-month landmark overall survival estimates were 46% and 20% for the combination, versus 38% and 10% for regorafenib [4] Group 2: Additional Findings - An interim analysis indicated a trend favoring the combination with overall survival of 15.9 months compared to 12.8 months at a median follow-up of 16.8 months [5] - A trend for improvement in progression-free survival (PFS) was also observed, although statistical superiority cannot be claimed at this time due to the prespecified hierarchical testing strategy [5][6] - The trend for PFS improvement was consistent across subgroups [6]

Market Overview - U.S. stock futures are higher, with Dow futures gaining approximately 0.2% on Monday [1] Company-Specific Movements - Olema Pharmaceuticals Inc (NASDAQ:OLMA) shares fell 18.3% to $7.64 in pre-market trading following the announcement of new data from the Phase 1b/2 trial of palazestrant plus ribociclib in ER+/HER2- metastatic breast cancer at ESMO 2025 [1] - Concord Medical Services Hldgs Ltd (NYSE:CCM) experienced a decline of 24.4% to $4.15 in pre-market trading after a 6% drop on Friday [3] - Addex Therapeutics Ltd – ADR (NASDAQ:ADXN) dipped 15.6% to $9.23 in pre-market trading after a significant gain of 28% on Friday [3] - Exelixis Inc (NASDAQ:EXEL) shares fell 8.3% to $36.00 after announcing detailed results from the Phase 3 STELLAR-303 pivotal trial evaluating zanzalintinib in combination with an immune checkpoint inhibitor in metastatic colorectal cancer, presented at ESMO 2025 and published in The Lancet [3] - Cellectis SA (NASDAQ:CLLS) shares declined 7.3% to $3.69 in pre-market trading [3] - Alumis Inc (NASDAQ:ALMS) saw a decline of 6.7% to $4.19 in pre-market trading [3] - Nanobiotix SA – ADR (NASDAQ:NBTX) fell 6.3% to $23.98 in pre-market trading after a 4% decline on Friday [3] - Genmab A/S – ADR (NASDAQ:GMAB) declined 4.1% to $31.81 in pre-market trading, with Rinatabart Sesutecan achieving a 50% objective response rate and two complete responses in advanced endometrial cancer [3] - Taysha Gene Therapies Inc (NASDAQ:TSHA) fell 4% to $4.53 in pre-market trading [3]

Core Insights - Exelixis, Inc. announced positive data from the STELLAR-303 trial, showing that the combination of zanzalintinib and atezolizumab improved median overall survival for metastatic colorectal cancer patients compared to regorafenib [1][2] - The combination therapy resulted in a median overall survival of 10.9 months, compared to 9.4 months for regorafenib, and reduced the risk of death by 20 percent in the intention-to-treat population [1] - The 12- and 24-month survival rates for the combination therapy were 46 percent and 20 percent, respectively, compared to 38 percent and 10 percent for regorafenib [2] - The safety profiles of both treatment regimens were consistent with previous observations [2] - The lead investigator noted that the combination therapy has shown consistent benefits across key patient subgroups [3] - Exelixis plans to submit its first new drug application for zanzalintinib by the end of the year [3] - Following the announcement, Exelixis' stock price decreased by 8.28 percent to $36 in pre-market trading [3]

Core Insights - Exelixis, Inc. announced detailed results from the STELLAR-303 trial, which evaluated zanzalintinib in combination with atezolizumab against regorafenib in patients with previously treated non-MSI-high metastatic colorectal cancer [1] Group 1 - The study met one of its dual primary endpoints, showing a 20% reduction in the risk of death with the combination treatment [1]

Core Insights - Exelixis, Inc. announced results from a subgroup analysis of the CABINET phase 3 pivotal trial evaluating CABOMETYX® (cabozantinib) against placebo in patients with previously treated advanced neuroendocrine tumors (NET) originating in the lungs or thymus [1] Group 1 - The data from the trial will be presented at the 2025 European Society for Medical Oncology Congress (ESMO) during the Monday Poster Session: Neuroendocrine Tumours on October 20, 2025, from 12:00 – 12 [1]

Group 1: Axsome Therapeutics - Axsome Therapeutics is a mid-cap biotech company with three products on the market: Auvelity, Symbravo, and Sunosi, driving strong revenue growth, with a 72% year-over-year increase to $150 million in Q2 [3][4] - The launch of Symbravo in June presents a significant growth opportunity, targeting a market of 39 million migraine patients in the U.S., where over 70% have inadequate responses to current treatments [4][5] - Auvelity shows promise in treating agitation associated with Alzheimer's disease, with a potential market of 7 million patients, and is on track to achieve blockbuster status [5][6] - The company is advancing its pipeline with AXS-12 for narcolepsy and other late-stage trials, positioning itself for continued revenue growth and market outperformance [6] Group 2: Exelixis - Exelixis specializes in oncology, known for its drug Cabometyx, which treats liver and kidney cancers and continues to drive revenue growth despite a reported 11% drop in total revenue to $568.3 million due to lower collaboration revenue [7][8] - Net product revenue for Exelixis increased by 19% year-over-year to $520 million, with Cabometyx expected to maintain strong sales through early 2030, fending off generic competition [8][9] - The company is focused on developing cancer therapies for high unmet needs, with its candidate zanzalintinib showing promise in metastatic colorectal cancer, which could address a significant treatment gap [9][10] - Exelixis has additional candidates in its pipeline, and strong clinical progress alongside Cabometyx's revenue growth is expected to yield strong returns through the end of the decade [10]

Core Insights - Exelixis, Inc. (NASDAQ:EXEL) is considered one of the most undervalued stocks on NASDAQ, with Barclays initiating coverage and setting a price target of $40 per share [1] - The company's primary revenue driver, cabozantinib, is expected to see mid-single-digit growth until its patent expiration in 2029 [1] - Barclays forecasts that Exelixis' overall revenue for 2029 will be approximately 8% lower than consensus estimates, primarily due to reduced sales expectations from pipeline products [2] Company Overview - Exelixis, Inc. specializes in developing targeted cancer treatments, focusing on molecular therapies that address difficult-to-treat cancers by targeting specific genomic mutations [4] Pipeline Developments - Zanzalintinib, a key pipeline candidate for Exelixis, has potential to enhance treatments for colorectal cancer and non-clear cell renal carcinoma [3] - However, there are concerns regarding zanzalintinib's ability to advance to earlier treatment lines in colorectal cancer due to a competitive market landscape [3]

Exelixis, Inc. (NASDAQ:EXEL) is among the Renaissance Technologies Portfolio: 10 Biggest Stocks. On September 17, Morgan Stanley raised the stock’s price target to $50 from $46, while maintaining an Overweight rating for its shares. Morgan Stanley Maintains Overweight Rating For Exelixis, Inc. (EXEL), Price Target Raised To $50 Stock market data showing an upward trajectory. Photo by Burak The Weekender on Pexels In a research note to investors, the analyst noted that Zanzalintinib presents a significan ...

Core Insights - The discussion features Courtney Breen from Sanford C. Bernstein, who specializes in large-cap biopharma, and Michael Morrissey, the CEO of Exelixis, indicating a focus on the biopharmaceutical sector and Exelixis' developments [1][2]. Company Overview - Courtney Breen has a background in oncology from her previous experience at Merck, suggesting a strong foundation in cancer-related therapies and treatments [1]. - The conversation aims to provide insights into Exelixis' current work and future prospects, highlighting the company's strategic direction in the biopharma industry [2].