Exelixis (NASDAQ:EXEL) Price Target Raised to $50.00 at Morgan Stanley

Exelixis (NASDAQ:EXEL) had its price target upped by analysts at Morgan Stanley from $49.00 to $50.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biotechnology company’s stock. Morgan Stanley’s price target would indicate a potential upside of 2.92% from the stock’s current price.

A number of other brokerages have also commented on EXEL. Truist Financial raised shares of Exelixis to a “strong-buy” rating in a research report on Monday, April 27th. Wells Fargo & Company increased their price objective on shares of Exelixis from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Zacks Research cut Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.72.

Exelixis Trading Up 9.4%

Shares of EXEL stock traded up $4.16 during trading hours on Wednesday, hitting $48.58. 3,575,193 shares of the company were exchanged, compared to its average volume of 2,718,939. The business has a 50 day moving average of $43.32 and a two-hundred day moving average of $42.86. Exelixis has a 52 week low of $33.76 and a 52 week high of $49.62. The company has a market capitalization of $12.34 billion, a PE ratio of 17.54, a PEG ratio of 0.99 and a beta of 0.38.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.12. The company had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.Exelixis’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. On average, research analysts forecast that Exelixis will post 3.07 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Brenda Hefti sold 18,669 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total value of $821,622.69. Following the transaction, the senior vice president owned 96,512 shares in the company, valued at approximately $4,247,493.12. This represents a 16.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 47,918 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the completion of the transaction, the executive vice president directly owned 616,106 shares in the company, valued at approximately $27,416,717. This represents a 7.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 362,849 shares of company stock worth $15,917,463 in the last quarter. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of large investors have recently made changes to their positions in EXEL. BridgePort Financial Solutions LLC bought a new stake in shares of Exelixis in the third quarter valued at approximately $517,000. Candriam S.C.A. lifted its holdings in shares of Exelixis by 18.4% in the third quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company’s stock worth $28,749,000 after acquiring an additional 108,367 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Exelixis by 11.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock valued at $172,658,000 after purchasing an additional 419,596 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Exelixis by 153.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock valued at $101,720,000 after purchasing an additional 1,490,520 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in Exelixis by 19.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 204,211 shares of the biotechnology company’s stock worth $8,434,000 after purchasing an additional 32,737 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: Q1 EPS beat and margin improvement — Exelixis reported $0.87 GAAP EPS vs. $0.75 consensus and showed strong profitability metrics, which supports near?term earnings visibility. Exelixis (EXEL) Tops Q1 Earnings Estimates
• Positive Sentiment: $750M buyback announced and management commentary — Company disclosed a $750M repurchase authorization tied to buyback?driven EPS accretion, a clear driver of shareholder value and a reason for the stock’s upward move. Exelixis outlines December PDUFA timeline for ZANZA CRC filing while adding $750M buyback
• Positive Sentiment: Analysts lift targets and reiterate buys — Several firms raised price targets (e.g., TD Cowen to $55 and Morgan Stanley to $50) or reiterated bullish views citing Cabo durability and buyback EPS support, which underpins the rally. Exelixis Price Target Raised to $55 Price Target Raised to $50 (Morgan Stanley)
• Neutral Sentiment: Revenue roughly flat to expectations — Q1 revenue of ~$610.8M was essentially in line with consensus (slight miss in some reports), and FY2026 revenue guidance was reiterated/updated to about $2.5–2.6B, leaving room for debate about growth pacing vs. street models. Exelixis (EXEL) Tops Q1 Earnings Estimates (Yahoo)
• Neutral Sentiment: Conference call and transcripts available — Management discussed Cabo durability, Zanzalintinib regulatory timelines (December PDUFA for CRC filing referenced) and execution priorities; useful for investors wanting detail but not an immediate price catalyst. Earnings Call Transcript Earnings Call Summary
• Negative Sentiment: Cabometyx sales momentum mixed — Some reports note Cabometyx sales lagged estimates, and analysts flag competitive pressure and pipeline uncertainty as risks to sustained top?line growth. EXEL Q1 Earnings Top Estimates, Colorectal Cancer Drug in Focus
• Negative Sentiment: Mixed analyst stance — Some firms (e.g., Wells Fargo) raised price targets but kept neutral/equal?weight ratings, signaling potential downside from current levels and that enthusiasm is not unanimous. Benzinga (Wells Fargo note)

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.