Overview

• Morgan Stanley raised its price target to $50 from $46 on September 17 and maintained an Overweight rating, citing near-term catalysts.
• The firm modeled roughly $4.7 billion in peak unadjusted sales for zanzalintinib across renal cell carcinoma, colorectal cancer, and neuroendocrine tumors.
• Goldman Sachs recently initiated coverage with a Buy rating and a $47 price target.
• Barclays began coverage at Equal-Weight with a $40 target and expects cabozantinib to grow in the mid-single digits until its patent expires in 2029.
• Barclays forecasts 2029 revenue about 8% below consensus and says competition could make it difficult for zanzalintinib to move into earlier colorectal cancer treatment lines.