El interés en corto de Forza X1 da a los inversores una idea del grado en que los inversores apuestan por la caída de las acciones de Forza X1. Los datos de interés en corto se actualizan cada dos semanas.

Forza X1 (NASDAQ:FRZA) Bolsa, Informe de interés en corto

Forza X1

Forza X1 Inc develops and manufactures fully electric, affordable boats with mass appeal. The company is focused on the creation, implementation, and sale of electric boats utilizing its electric vehicle (EV) technology to control and power its boats and proprietary outboard electric motor. its electric boats are being designed as fully integrated electric boats including the hull, outboard motor, and control system. Its initial two models, the FX1 Dual Console and FX1 Center Console are being designed to be 24 feet in length, have an 8' beam or width, and utilize a catamaran hull surface to reduce drag and increase run times.

Forza X1 Inc

High-rolling investors have positioned themselves bearish on Intercontinental Exchange (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ICE often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Intercontinental Exchange. This is not a typical pattern.
The sentiment among these major traders is split, with 25% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $47,530, and 7 calls, totaling $781,594.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $145.0 to $180.0 for Intercontinental Exchange during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of Intercontinental Exchange stands at 757.86, with a total volume reaching 2,252.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Intercontinental Exchange, situated within the strike price corridor from $145.0 to $180.0, throughout the last 30 days.
<h3>Intercontinental Exchange Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728329434_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ICE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$7.3</td>
<td>$7.1</td>
<td>$7.1</td>
<td>$160.00</td>
<td>$335.1K</td>
<td>3.5K</td>
<td style="text-align: right;">510</td>
</tr>
<tr>
<td>ICE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$4.1</td>
<td>$4.0</td>
<td>$4.1</td>
<td>$180.00</td>
<td>$164.8K</td>
<td>153</td>
<td style="text-align: right;">329</td>
</tr>
<tr>
<td>ICE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.4</td>
<td>$3.2</td>
<td>$3.4</td>
<td>$170.00</td>
<td>$113.2K</td>
<td>268</td>
<td style="text-align: right;">361</td>
</tr>
<tr>
<td>ICE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$5.9</td>
<td>$5.6</td>
<td>$5.7</td>
<td>$165.00</td>
<td>$53.5K</td>
<td>721</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>ICE</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$4.4</td>
<td>$4.1</td>
<td>$4.4</td>
<td>$145.00</td>
<td>$47.5K</td>
<td>140</td>
<td style="text-align: right;">803</td>
</tr>
</tbody>
</table>

<h3>About Intercontinental Exchange</h3>
Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products. Though the company is probably best known for its ownership of the New York Stock Exchange, which it acquired in 2013, ICE operates a large derivatives exchange, too. The company's largest commodity futures product is the ICE Brent crude futures contract. In addition to the exchanges business, which is about 54% of net revenue, Intercontinental Exchange has used a series of acquisitions to create its mortgage technology business (22% of net revenue) and fixed-income and data services segment (24% of net revenue).
After a thorough review of the options trading surrounding Intercontinental Exchange, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of Intercontinental Exchange</h3>
<ul>
<li>With a trading volume of 1,347,869, the price of ICE is down by -1.97%, reaching $159.56.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 24 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Intercontinental Exchange</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $187.8.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Intercontinental Exchange with a target price of $175. 
&#x2A; Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $200. 
&#x2A; An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $200. 
&#x2A; Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Intercontinental Exchange, targeting a price of $185. 
&#x2A; An analyst from Barclays has decided to maintain their Overweight rating on Intercontinental Exchange, which currently sits at a price target of $179. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Intercontinental Exchange with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Markets

Check Out What Whales Are Doing With ICE

Republic Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSG#NYSE">RSG</a>) has outperformed the market over the past 20 years by 3.83% on an annualized basis producing an average annual return of 12.35%. Currently, Republic Servs has a market capitalization of $62.63 billion. 
Buying $100 In RSG: If an investor had bought $100 of RSG stock 20 years ago, it would be worth $1,009.75 today based on a price of $199.41 for RSG at the time of writing.
<h3>Republic Servs's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728329415_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

News

Trading Ideas

Here's How Much You Would Have Made Owning Republic Servs Stock In The Last 20 Years

When you <a href="https://www.benzinga.com/personal-finance/24/08/40378006/exactly-how-much-money-do-you-need-to-be-rich-heres-a-look-at-the-numbers">hear the word "rich,"</a> your mind probably conjures images of luxury – sleek cars, sprawling mansions, and a life of indulgence. But being rich on paper doesn't always mean you're really rich. You can have a high income or flashy assets but still not be considered truly wealthy.
In the U.S., defining the difference between being "rich" and "really rich" (aka "wealthy") is far from straightforward. The numbers are important, but the mindset and lifestyle that come with them are just as critical.
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<li><a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a></li>
</ul>
Rich vs. Really Rich: The Key Difference
Simply put, being rich usually means you have a high income, but being really rich or wealthy means you've accumulated enough assets and net worth to sustain your lifestyle without relying on your job. In short, wealth is about long-term financial security, while being rich is often just about current cash flow.
See Also: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account — start saving better today.</a>
How Much Money Do You Need to Be Rich?
According to Charles Schwab's 2024 Modern Wealth Survey, the average American thinks you need a <a href="https://www.benzinga.com/personal-finance/24/09/41013499/how-much-do-you-really-need-to-be-rich-heres-the-magic-number-people-now-say-is-wealthy">net worth of around $2.5 million</a> to be considered wealthy. That's up from $2.2 million in previous years.
But of course, this number can vary wildly depending on where you live. If you're in San Francisco, people think you need a cool $4.4 million to be considered wealthy, thanks to sky-high living costs. On the other hand, New Yorkers set their threshold at $2.9 million. Your ZIP code plays a big role in how people define wealth.
Trending: Are you richer than most people you know?<a href="https://www.benzinga.com/money/are-you-richer-than-most-people"> Here&#8217;s the net worth you need at every age to be above average.</a>
High Income vs. High Net Worth
While net worth is one way to measure wealth, the IRS focuses on income when defining who is rich. They say earning about $45,000 per month – or $540,000 annually – puts you in the "wealthy" category. But to hit the upper echelon, you'd need to rake in closer to $68,277 per month, according to the Economic Policy Institute, which defines the top 1% of earners.
The Wealth Spectrum
If you're curious about where most Americans fall, the U.S. Census Bureau provides more insight. The top 20% of earners make around $130,545 per year, nearly double the median household income of $71,000. So, while that might seem pretty solid, it's not enough to be in the top 1%.
For those wondering about net worth, it's another story. To land in the top 1% in America by net worth, you need about $11.6 million, according to The Kickass Entrepreneur. If you're in the top 5%, you're looking at $1.17 million. So, there's a big gap between being well-off and truly wealthy.
Trending: A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a>
Rich vs. Wealthy: What's the Difference?
Here's where things get interesting: being "rich" and "wealthy" aren't quite the same. Rich usually refers to having a high income, which means you can spend freely on luxury and lifestyle. But that doesn't mean you're secure for the long haul. As the saying goes, "You can be rich, but still living paycheck to paycheck."
Conversely, wealth is more about net worth – the total of your assets minus your debts. It's not just about having money but enough to give you long-term financial freedom.&nbsp;
See Also: How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.
Personal Finance Is Personal
Ultimately, the idea of being rich or wealthy <a href="https://www.benzinga.com/personal-finance/24/09/41075540/is-your-401-k-balance-above-average-find-out-if-youre-beating-most-savers">comes down to personal perspective</a>. Some people might prioritize security over big earnings, focusing more on financial comfort than hitting a specific number. Others might dream of a retirement spent traveling the world or having enough freedom to pursue passions without worrying about the next paycheck.
Financial well-being isn't a one-size-fits-all. <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">Consulting a financial advisor</a> can help you develop a strategy that aligns with your goals, whether building wealth, securing a comfortable retirement, or simply finding peace of mind.
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<li><a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a></li>
</ul>

Personal Finance

Are You Rich or 'Really' Rich? Here's the Extreme Difference Between the Two Levels of Wealth

Veeva Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>) has outperformed the market over the past 10 years by 11.15% on an annualized basis producing an average annual return of 22.85%. Currently, Veeva Systems has a market capitalization of $32.68 billion. 
Buying $100 In VEEV: If an investor had bought $100 of VEEV stock 10 years ago, it would be worth $793.08 today based on a price of $203.12 for VEEV at the time of writing.
<h3>Veeva Systems's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728329410_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

VEEV

Here's How Much You Would Have Made Owning Veeva Systems Stock In The Last 10 Years

Barclays analyst Nicholas Campanella maintains Chesapeake Utilities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPK#NYSE">CPK</a>) with a Equal-Weight and raises the price target from $118 to $124.

Price Target

Analyst Ratings

Barclays Maintains Equal-Weight on Chesapeake Utilities, Raises Price Target to $124

Barclays analyst Nicholas Campanella maintains Atmos Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATO#NYSE">ATO</a>) with a Equal-Weight and raises the price target from $129 to $144.

Barclays Maintains Equal-Weight on Atmos Energy, Raises Price Target to $144

Chubb Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) shares are trading lower by 5% to $275.89 going into the close of Monday&#8217;s session. Shares of insurance companies are trading lower while Floridians experience evacuation orders as Category 5 <a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie">Hurricane Milton</a> approaches the state. The region is still recovering from damage due to Hurricane Helene.
What Happened: Shares of Chubb, one of the world's largest property and casualty insurers, fell today as Hurricane Milton intensified and headed toward Florida&#8217;s Gulf Coast. This comes less than two weeks after Hurricane Helene made landfall in the state, raising concerns over back-to-back financial pressures on insurers.
Chubb, known for its extensive portfolio of property, flood, and catastrophe insurance, faces heightened risk from these powerful storms. Florida is one of the company&#8217;s key markets for homeowner and commercial property insurance, and the potential damage from Hurricane Milton—expected to be a Category 4 or 5 storm—could lead to a surge in claims. 
The cumulative effect of Helene and Milton, both major hurricanes, could significantly impact Chubb's profitability in the fourth quarter.
Read Also: <a href="https://www.benzinga.com/general/entertainment/24/10/41214476/will-kamala-harriss-media-blitz-including-60-minutes-and-call-her-daddy-improve-her-2024-el">Will Kamala Harris&#8217;s Media Blitz, Including &#8217;60 Minutes&#8217; And &#8216;Call Her Daddy,&#8217; Improve Her 2024 Election Prospects?</a>
Hurricane Helene caused significant but manageable damage, leading to initial relief among insurers. However, the threat posed by Milton is amplifying concerns. Meteorologists expect Milton to affect a larger geographic area, particularly the Tampa Bay region, and the storm's size and intensity suggest higher levels of destruction, including wind damage, flooding and business interruptions. 
Given that Chubb provides comprehensive hurricane coverage, it could face hundreds of millions of dollars in claims.
What Else: Chubb has long been regarded as one of the most financially resilient insurers, with robust reinsurance arrangements and capital reserves to manage catastrophic events. However, consecutive hurricanes of this magnitude could pressure its underwriting performance and trigger larger-than-anticipated payouts, hurting its combined ratio—a key measure of profitability in the insurance industry. 
If Milton causes extensive infrastructure damage, Chubb could see a higher volume of claims than initially forecasted.
Additionally, the cost of handling claims, such as deploying adjusters and addressing policyholder needs in hard-hit areas, can inflate Chubb&#8217;s expenses. Given the already strained resources from Hurricane Helene, the added burden from Milton raises fears of longer recovery timelines and potentially larger economic losses.
Investors are cautious as Chubb&#8217;s exposure to natural disasters remains a key risk to the company's financial outlook. While home improvement and utility stocks may see gains due to increased demand for repairs and backup energy systems, Chubb and other insurers are vulnerable to unexpected, substantial losses from back-to-back hurricanes.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/10/41213960/stocks-slip-as-oil-prices-surge-10-year-yields-cross-4-energy-sector-outperforms-whats-driving-m">Stocks Slip As Oil Prices Climb, 10-Year Yields Cross 4%; Energy Sector Outperforms: What&#8217;s Driving Markets Monday?</a>
<h2 class="wp-block-heading">How To Buy CB Stock</h2>
By now you're likely curious about how to participate in the market for Chubb &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, CB has a 52-week high of $294.18 and a 52-week low of $205.64.

Why Chubb (CB) Stock Is Down 5% Today

Barclays analyst Theresa Chen maintains Kodiak Gas Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGS#NYSE">KGS</a>) with a Equal-Weight and raises the price target from $29 to $32.

Barclays Maintains Equal-Weight on Kodiak Gas Services, Raises Price Target to $32

Barclays analyst Theresa Chen maintains HF Sinclair (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DINO#NYSE">DINO</a>) with a Equal-Weight and lowers the price target from $53 to $44.

DINO

Barclays Maintains Equal-Weight on HF Sinclair, Lowers Price Target to $44

Macro Economic Events

Politics

Global

Economics

General

Senior U.S. Intelligence Official Says U.S. Assesses That China Is Not Seeking To Influence Outcome Of U.S. Presidential Election

Goldman Sachs analyst Eric Sheridan maintained a Buy rating on Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) and a price target of $430 (up from $425).
Ahead of its third-quarter 2024 earnings report, Sheridan previewed current industry data, addressed key investor debates, and highlighted the potential revenue contribution from a deluxe tier for Spotify over the long term.
Since its last earnings report, Spotify stock has outperformed (+13% versus the SPX +2% over the same period), which continues a pattern of the past 12 months with Spotify stock +142% versus the SPX +35%, the analyst noted.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/41095043/spotify-recovers-after-3-hour-outage-impacting-thousands-of-users" rel="noreferrer noopener">Spotify Recovers After 3-Hour Outage Impacting Thousands of Users</a>
He said Spotify's stock performance is anchored around a few key narratives that continue to build momentum.
Spotify is the clear global audio platform leader, which Sheridan expects to translate into elements of scaled compounded user growth, rising engagement across multiple format structures, and pricing power for his operating forecast period.
Coming out of its late 2023 operating costs restructuring, Spotify is beginning to show much of the gross and operating margin trajectory that the company has discussed as medium or long-term goals dating back over the last 3-5 years, with forward opportunities around efficiencies, segment revenue scale, and yield or return from prior period investment cycles as drivers of outsized multi-year margin improvements in years to come
The analyst also flagged the potential for a more consistent shareholder return policy that closely mirrors its global TMT peer group in the coming years.
Going into this earnings report, Sheridan noted investors focused on management commentary on pricing and product decisions, gross margin results, and broader elements of the audio landscape in terms of broader platform scaling or evolution in the years ahead.
Sheridan projected fiscal 2024 revenue of 15.72 billion euros and EPS of 5.87 euros.
Price action:&nbsp;SPOT stock is down 1.94% at $364.24 at the last check Monday.
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Photo by esthermm on Shutterstock

Analyst Color

Eurozone

Reiteration

Tech

SPOT

Goldman Sachs Raises Forecast On Spotify, Cites User Engagement Growth and Potential Deluxe Tier Revenue

Barclays analyst Michael Leithead maintains LyondellBasell Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>) with a Equal-Weight and lowers the price target from $101 to $99.

Barclays Maintains Equal-Weight on LyondellBasell Industries, Lowers Price Target to $99

Barclays analyst Michael Leithead maintains Dow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) with a Equal-Weight and lowers the price target from $58 to $57.

Barclays Maintains Equal-Weight on Dow, Lowers Price Target to $57

Barclays analyst Lauren Lieberman maintains Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) with a Overweight and lowers the price target from $309 to $300.

Barclays Maintains Overweight on Constellation Brands, Lowers Price Target to $300

Barclays analyst Benjamin Budish maintains Coinbase Glb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) with a Equal-Weight and raises the price target from $169 to $175.

COIN

Barclays Maintains Equal-Weight on Coinbase Glb, Raises Price Target to $175

Shares of Exelixis, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/exel#NASDAQ">EXEL</a>) have risen 20.7% in the past three months compared with the industry&#39;s growth of 6.3%. The stock has also outperformed the sector and the S&amp;P 500 Index.
Exelixis has been a consistent outperformer in the year so far on the back of the strong performance of its lead drug Cabometyx and encouraging pipeline progress.
<h2>EXEL Outperforms Industry, Sector &amp; S&amp;P 500</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/9a/80573.jpg?v=2113034342" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>Cabometyx Boosts EXEL</h2>
Cabometyx maintained its status as the leading tyrosine kinase inhibitor (TKI) for the treatment of renal cell carcinoma (RCC) in 2023. This was mainly attributable to its use in combination with Bristol Myers&#39;&nbsp;Opdivo in the first-line setting. The drug also maintained growth in the hepatocellular carcinoma indication.
BMY&#39;s Opdivo is one of the leading immuno-oncology drugs, approved for various oncology indications.
Management is also focused on the label expansion of Cabometyx. The FDA accepted EXEL&#39;s supplemental new drug application (sNDA) for cabozantinib for patients with previously treated advanced pancreatic neuroendocrine tumors (pNET) and those with previously treated advanced extra-pancreatic NET (epNET). The FDA assigned a standard review with a target action date of April 3, 2025. The FDA also granted the orphan drug designation to cabozantinib for the treatment of pNET.
A potential label expansion should further propel its growth prospects.
Exelixis also intends to submit an sNDA with the FDA later this year for cabozantinib, in combination with Tecentriq (atezolizumab), for metastatic castration-resistant prostate cancer.
<h2>EXEL Makes Encouraging Pipeline Progress</h2>
The pipeline progress has been impressive as well, as Exelixis looks to expand its oncology portfolio beyond Cabometyx.
Other promising candidates in Exelixis&#39; pipeline zanzalintinib, a next-generation oral TKI and XL309. In the first half of 2025, Exelixis intends to initiate a phase III study, STELLAR-311, to evaluate zanzalintinib compared with everolimus as a first oral therapy in patients with pNET and epNET.
The company also plans to advance phase I efforts for XL309 and XB010.
EXEL decided to discontinue the development of XB002. It plans to reallocate resources to new pivotal trials with zanzalintinib, advancing XL309 and its growing pipeline.
The successful development of additional drugs should broaden its portfolio and reduce its dependence on its lead drug, Cabometyx.
<h2>Exelixis&#39; Efforts to Boost Shareholder Value</h2>
Exelixis is also making efforts to increase shareholder value through repurchases.&nbsp; At the end of the second quarter, Exelixis completed its 2024 share repurchase program, having repurchased 20.3 million shares of the company&#39;s common stock for a total of $450 million.
Consequently, the company returned $1 billion to shareholders since the initial $550 million stock repurchase program was authorized in March 2023.
The board of directors has authorized the repurchase of up to an additional $500 million of the company&#39;s common stock through the end of 2025.
<h2>Valuation &amp; Estimates</h2>
Going by the price/sales ratio, EXEL&#39;s shares currently trade at 3.64x forward sales, higher than its mean of 3.34x and the biotech industry&#39;s 1.79x.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/42/80575.jpg?v=206418566" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2024 earnings per share has increased to $1.83 from $1.79 over the past 30 days.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/37/80578.jpg?v=1325426803" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>Conclusion</h2>
Large biotech companies are generally considered safe havens for investors interested in this sector. EXEL is a good stock to buy now, with good fundamentals and growth prospects.
The stock has performed well this year. Potential label expansion of Cabometyx should boost its growth. The company&#39;s efforts to expand its portfolio are encouraging as well. The successful development of additional drugs should broaden its portfolio and reduce its dependence on its lead drug, Cabometyx.
<h2>Zacks Rank &amp; Other Key Picks</h2>
EXEL currently carries a Zacks Rank #2 (Buy).&nbsp;
Some other top-ranked stocks in the biotech sector are Alnylam Pharmaceuticals (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alny#NASDAQ">ALNY</a>) and Krystal Biotech (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/krys#NASDAQ">KRYS</a>), both carrying a Zacks Rank #1 (Strong Buy) at present.
ALNY&#39;s loss per share estimate for 2024 has narrowed from $1.20 to 63 cents in the past 60 days and the same for 2025 has narrowed from 34 cents to 27 cents.
Krystal Biotech&#39;s earnings per share for 2024 have increased to $2.38 from $1.98 in the past 90 days. Shares of KRYS have surged 42.8% year to date.
<a href="https://www.zacks.com/stock/news/2346907/exelixis-gains-20-7-in-three-months-is-this-the-right-time-to-buy?cid=CS-BENZ-FT-analyst_blog|rank_focused-2346907">To read this article on Zacks.com click here.</a>

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