Exelixis (NASDAQ:EXEL) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Exelixis (NASDAQ:EXEL) from a hold rating to a strong sell rating in a research note issued to investors on Monday,Zacks.com reports. Zacks Research also issued estimates for Exelixis’ Q4 2027 earnings at $1.00 EPS, Q1 2028 earnings at $0.97 EPS and Q2 2028 earnings at $0.99 EPS.

Several other research analysts have also recently commented on EXEL. Morgan Stanley increased their price target on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada upped their price objective on Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Barclays boosted their target price on shares of Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Citigroup reiterated a “market outperform” rating on shares of Exelixis in a research note on Wednesday, July 22nd. Finally, Truist Financial raised their target price on shares of Exelixis from $54.00 to $56.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $49.50.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $56.00 on Monday. The company’s 50-day moving average price is $53.95 and its two-hundred day moving average price is $47.76. Exelixis has a one year low of $33.76 and a one year high of $57.57. The stock has a market capitalization of $14.08 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 1.59 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. During the same quarter last year, the company earned $0.55 EPS. Exelixis’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, analysts anticipate that Exelixis will post 3.15 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In other Exelixis news, Director Maria C. Freire sold 20,634 shares of Exelixis stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $46.00, for a total transaction of $949,164.00. Following the transaction, the director directly owned 100,819 shares of the company’s stock, valued at approximately $4,637,674. The trade was a 16.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher J. Senner sold 34,901 shares of Exelixis stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $50.00, for a total value of $1,745,050.00. Following the completion of the transaction, the chief financial officer directly owned 952,317 shares of the company’s stock, valued at approximately $47,615,850. This trade represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 219,170 shares of company stock valued at $10,620,641 in the last quarter. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several hedge funds and other institutional investors have recently bought and sold shares of EXEL. Motiv8 Investments LLC bought a new position in shares of Exelixis during the 4th quarter worth about $26,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Exelixis in the 1st quarter valued at about $27,000. Acumen Wealth Advisors LLC bought a new stake in Exelixis in the 4th quarter valued at about $29,000. Western Wealth Management LLC bought a new stake in Exelixis in the 1st quarter valued at about $29,000. Finally, Activest Wealth Management acquired a new position in Exelixis during the 4th quarter worth approximately $32,000. 85.27% of the stock is owned by institutional investors.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.