Exelixis (NASDAQ:EXEL) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen lowered shares of Exelixis (NASDAQ:EXEL) from a strong-buy rating to a buy rating in a report released on Sunday morning,Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. TD Cowen boosted their price objective on shares of Exelixis from $55.00 to $76.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus raised their price objective on shares of Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Citizens Jmp raised their price target on shares of Exelixis from $55.00 to $65.00 and gave the company a “market outperform” rating in a report on Monday, October 19th. Zacks Research raised shares of Exelixis from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Finally, Truist Financial lifted their price target on shares of Exelixis from $54.00 to $60.00 and gave the company a “hold” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.21.

Exelixis Stock Performance

Shares of Exelixis stock opened at $69.39 on Friday. The business’s 50 day moving average price is $59.39 and its 200 day moving average price is $50.92. The company has a market cap of $16.93 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.95 and a beta of 0.45. Exelixis has a one year low of $36.00 and a one year high of $72.10.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Thursday, October 29th. The biotechnology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. The business had revenue of $658.70 million for the quarter, compared to analyst estimates of $646.51 million. Exelixis had a return on equity of 45.54% and a net margin of 35.45%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 earnings per share. On average, analysts predict that Exelixis will post 3.19 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mary Beckerle sold 9,812 shares of Exelixis stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director directly owned 16,079 shares of the company’s stock, valued at $862,799.14. This trade represents a 37.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 institutional investors and hedge funds have recently bought and sold shares of EXEL. BlackRock Inc. purchased a new stake in shares of Exelixis during the second quarter valued at $1,581,991,000. Dimensional Fund Advisors LP increased its stake in shares of Exelixis by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock valued at $184,391,000 after purchasing an additional 39,920 shares in the last quarter. Assetmark Inc. boosted its holdings in Exelixis by 1.7% in the 1st quarter. Assetmark Inc. now owns 3,388,920 shares of the biotechnology company’s stock worth $145,351,000 after buying an additional 58,149 shares during the last quarter. Bank of America Corp DE grew its stake in Exelixis by 30.7% during the 2nd quarter. Bank of America Corp DE now owns 2,149,397 shares of the biotechnology company’s stock valued at $116,949,000 after acquiring an additional 504,660 shares in the last quarter. Finally, Caisse de depot et placement du Quebec purchased a new stake in shares of Exelixis during the 2nd quarter valued at approximately $113,951,000. 85.27% of the stock is currently owned by institutional investors.

Exelixis News Summary

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.