Exelixis (NASDAQ:EXEL) Stock Price Target Raised at Truist Financial

Exelixis (NASDAQ:EXEL) had its target price hoisted by research analysts at Truist Financial from $54.00 to $60.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the biotechnology company’s stock. Truist Financial‘s price objective would indicate a potential downside of 16.23% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Exelixis from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. Zacks Research upgraded shares of Exelixis from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Citizens Jmp raised their price objective on Exelixis from $55.00 to $65.00 and gave the company a “market outperform” rating in a research note on Monday, October 19th. Morgan Stanley increased their price target on shares of Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada increased their target price on Exelixis from $51.00 to $58.00 and gave the company a “sector perform” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Exelixis presently has a consensus rating of “Hold” and an average price target of $53.21.

Exelixis Trading Up 8.2%

Exelixis stock traded up $5.43 during trading hours on Friday, reaching $71.63. 1,367,105 shares of the company were exchanged, compared to its average volume of 2,570,686. The stock has a 50-day moving average of $59.07 and a 200 day moving average of $50.79. The firm has a market cap of $17.75 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.86 and a beta of 0.47. Exelixis has a 12 month low of $36.00 and a 12 month high of $71.87.

Exelixis (NASDAQ:EXEL) last released its earnings results on Thursday, October 29th. The biotechnology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.89 by $0.05. The firm had revenue of $658.70 million during the quarter, compared to analysts’ expectations of $646.51 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. As a group, research analysts forecast that Exelixis will post 3.19 EPS for the current year.

Insider Transactions at Exelixis

In related news, Director Mary Beckerle sold 9,812 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $53.66, for a total value of $526,511.92. Following the transaction, the director directly owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. The trade was a 37.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Exelixis

A number of large investors have recently added to or reduced their stakes in EXEL. Tucker Asset Management LLC bought a new stake in shares of Exelixis in the 3rd quarter worth about $557,000. Signature Equity Partners LLC boosted its holdings in shares of Exelixis by 194.0% in the third quarter. Signature Equity Partners LLC now owns 4,134 shares of the biotechnology company’s stock valued at $241,000 after purchasing an additional 2,728 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Exelixis during the 3rd quarter worth $1,402,000. Profund Advisors LLC lifted its holdings in shares of Exelixis by 36.0% in the 3rd quarter. Profund Advisors LLC now owns 42,521 shares of the biotechnology company’s stock worth $2,484,000 after buying an additional 11,267 shares during the period. Finally, Vise Technologies Inc. grew its position in shares of Exelixis by 73.5% during the 3rd quarter. Vise Technologies Inc. now owns 27,248 shares of the biotechnology company’s stock worth $1,592,000 after buying an additional 11,540 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Trending Headlines about Exelixis

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Q3 earnings and revenue exceeded expectations. Exelixis reported non-GAAP earnings of $0.94 per share, above the $0.89 consensus estimate, while revenue reached $658.7 million versus expectations of approximately $646.5 million. Revenue grew 10.2% year over year, with CABOMETYX continuing to drive performance. Exelixis Q3 Earnings Report
• Positive Sentiment: Pipeline progress provides a potential catalyst. Exelixis said the FDA has assigned a March 3, 2027 PDUFA date for zanzalintinib, giving investors a defined timeline for a regulatory decision. The company is also advancing Wave 2 pivotal development plans, which could expand its future growth opportunities. Zanzalintinib PDUFA and Wave 2 Plans
• Positive Sentiment: Profitability and cash generation remained strong. Third-quarter net income increased year over year, and operating cash flow totaled about $280 million, reinforcing Exelixis’ ability to fund its commercial operations and pipeline.
• Neutral Sentiment: Institutional positioning was mixed. Recent filings showed significant purchases by some quantitative and institutional investors, while other large managers reduced their holdings. This signals differing views on the stock’s valuation and outlook.
• Negative Sentiment: Barclays remains cautious on valuation. The firm raised its price target from $49 to $54 but maintained an “equal weight” rating. The new target remains materially below the recent trading level, suggesting limited near-term upside in Barclays’ view.
• Negative Sentiment: Reported insider activity has been entirely selling. Data cited in recent coverage showed six insider sales and no purchases during the past six months. While these transactions may be routine, they can weigh on investor sentiment when the stock is near a 52-week high.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.