Exelixis (NASDAQ:EXEL) Given New $54.00 Price Target at Barclays

Exelixis (NASDAQ:EXEL) had its price target increased by Barclays from $49.00 to $54.00 in a report released on Friday,Benzinga reports. They currently have an equal weight rating on the biotechnology company’s stock.

Several other research analysts have also commented on the company. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Friday, September 11th. Morgan Stanley lifted their target price on shares of Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Truist Financial lifted their target price on shares of Exelixis from $52.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, October 7th. Weiss Ratings raised shares of Exelixis from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Finally, Citizens Jmp raised their price objective on shares of Exelixis from $55.00 to $65.00 and gave the company a “market outperform” rating in a research report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $55.21.

Exelixis Trading Up 4.8%

Exelixis stock opened at $69.39 on Friday. Exelixis has a 1-year low of $36.00 and a 1-year high of $72.10. The firm has a market capitalization of $17.19 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 1.86 and a beta of 0.47. The firm’s 50 day simple moving average is $59.39 and its 200 day simple moving average is $50.92.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Thursday, October 29th. The biotechnology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. The firm had revenue of $658.70 million during the quarter, compared to analyst estimates of $646.51 million. Exelixis had a net margin of 35.45% and a return on equity of 44.70%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 EPS. Research analysts forecast that Exelixis will post 3.19 earnings per share for the current year.

Insider Buying and Selling

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of Exelixis stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction 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. This trade represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Exelixis

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cassaday & Co Wealth Management LLC purchased a new stake in Exelixis during the 1st quarter valued at about $27,000. Western Wealth Management LLC purchased a new stake in Exelixis during the first quarter valued at $29,000. Mather Group LLC. boosted its position in Exelixis by 124.6% in the third quarter. Mather Group LLC. now owns 757 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 420 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Exelixis during the second quarter valued at approximately $46,000. Finally, Provenance Wealth Advisors LLC purchased a new stake in shares of Exelixis in the 3rd quarter worth $60,000. Institutional investors own 85.27% of the company’s stock.

More Exelixis News

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Q3 earnings and revenue beat expectations: Exelixis reported adjusted EPS of $0.94 versus the $0.89 consensus estimate and revenue of $658.7 million versus expectations of approximately $646.5 million. Revenue increased 10.2% year over year. EXEL Q3 Earnings Beat Estimates on Strong Cabometyx Sales
• Positive Sentiment: CABOMETYX remained the key growth driver: U.S. net product revenue reached roughly $605 million, with franchise revenue growth of about 11% year over year, supporting confidence in Exelixis’ core commercial business.
• Positive Sentiment: Capital returns and financial strength supported sentiment: The company repurchased approximately $250 million of stock during the quarter and ended the period with about $1.4 billion in cash and marketable securities.
• Positive Sentiment: Pipeline catalyst is approaching: Exelixis outlined a March 3, 2027 FDA decision date for zanzalintinib, while continuing preparations for additional pivotal studies. Exelixis outlines March 3, 2027 PDUFA for zanza
• Positive Sentiment: TD Cowen raised its price target to $76 from $55 and assigned a Buy rating, adding to the bullish reaction following the earnings release. TD Cowen Exelixis ratings
• Neutral Sentiment: Analyst views remain mixed: Morgan Stanley raised its target to $60 but maintained Equalweight, while Truist, RBC, Barclays and other firms also lifted targets that remain below the current trading level.
• Negative Sentiment: Insider trading presents a cautionary signal: Six reported insider open-market transactions over the past six months were sales, with no purchases. This may temper enthusiasm despite the favorable quarterly results.

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.