Barclays Forecasts Strong Price Appreciation for Exelixis (NASDAQ:EXEL) Stock

Key Points

• Barclays raised Exelixis’ price target from $49 to $54 but maintained an “equal weight” rating; the target implies roughly 23.7% downside from the stock’s $70.78 trading price.
• Exelixis shares rose 6.9% and traded near their 52-week high, while the broader analyst view remained cautious: the average rating was “Hold” with a $52.29 target price.
• The company reported quarterly results above expectations, with EPS of $0.94 versus $0.89 expected and revenue of $658.7 million, up 10.2% year over year.

Exelixis (NASDAQ:EXEL - Get Free Report) had its price objective raised by research analysts at Barclays from $49.00 to $54.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the biotechnology company's stock. Barclays's price objective points to a potential downside of 23.71% from the company's current price.

Several other analysts have also issued reports on EXEL. Weiss Ratings upgraded shares of Exelixis from a "buy (a-)" rating to a "buy (a)" rating in a research report on Thursday, October 8th. BMO Capital Markets restated a "market perform" rating and set a $60.00 price target on shares of Exelixis in a research report on Friday. Truist Financial raised their price target on shares of Exelixis from $52.00 to $54.00 and gave the company a "hold" rating in a research note on Wednesday, October 7th. Stifel Nicolaus lifted their price objective on Exelixis from $47.00 to $51.00 and gave the stock a "hold" rating in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded Exelixis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 24th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $52.29.

Exelixis Stock Up 6.9%

Shares of EXEL stock traded up $4.58 during trading hours on Friday, hitting $70.78. 621,078 shares of the company's stock were exchanged, compared to its average volume of 2,567,143. Exelixis has a fifty-two week low of $36.00 and a fifty-two week high of $71.87. The firm has a market cap of $17.54 billion, a P/E ratio of 22.21, a P/E/G ratio of 1.86 and a beta of 0.47. The firm has a 50 day moving average of $59.07 and a two-hundred day moving average of $50.79.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.05. The firm had revenue of $658.70 million for 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 firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. On average, equities analysts forecast that Exelixis will post 3.19 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In other news, Director Mary Beckerle sold 9,812 shares of the company's stock in a transaction 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 completion of the sale, the director owned 16,079 shares of the company's stock, valued at $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Exelixis

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Exelixis during the second quarter worth $1,581,991,000. Dimensional Fund Advisors LP raised its holdings 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 buying an additional 39,920 shares during the period. Assetmark Inc. raised its holdings in shares of Exelixis by 1.7% in the 1st quarter. Assetmark Inc. now owns 3,388,920 shares of the biotechnology company's stock valued at $145,351,000 after buying an additional 58,149 shares during the period. First Trust Advisors LP lifted its stake in Exelixis by 62.0% during the 1st quarter. First Trust Advisors LP now owns 2,534,992 shares of the biotechnology company's stock worth $108,726,000 after acquiring an additional 970,144 shares in the last quarter. Finally, Bank of America Corp DE lifted 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 worth $116,949,000 after acquiring an additional 504,660 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis News Summary

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Q3 earnings and revenue beat expectations. Exelixis reported revenue of $658.7 million, up 10.2% year over year, versus a consensus estimate of approximately $646.5 million. Non-GAAP EPS was $0.94, ahead of the $0.89 estimate and above $0.78 a year earlier. CABOMETYX remained the primary growth and profitability driver. Exelixis Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: Pipeline catalysts are becoming more visible. Exelixis said the FDA has assigned a March 3, 2027 PDUFA date for zanzalintinib, while the company continues advancing “Wave 2” pivotal development plans. A regulatory decision and progress toward additional indications could expand the company’s growth beyond CABOMETYX. Exelixis Zanzalintinib PDUFA and Wave 2 Plans
• Positive Sentiment: Profitability and cash generation remain strong. Third-quarter net income was reported at $218.1 million, operating cash flow reached $280.0 million, and operating profit increased year over year, supporting continued investment in clinical programs. Exelixis Third-Quarter Results and Corporate Updates
• Neutral Sentiment: Investors still face a valuation and execution debate. EXEL’s strong rally has pushed the stock close to its 52-week high, while the median analyst price target cited in recent coverage is $52, below the current trading range. Future performance will depend on successful zanzalintinib development and regulatory execution.
• Negative Sentiment: Recent insider activity has been one-sided. Several executives and directors reportedly sold shares during the past six months, with no insider purchases disclosed. These sales may weigh on sentiment, although they do not necessarily indicate deteriorating fundamentals. Exelixis Q3 Earnings and Insider Activity

About Exelixis

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.