Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, TD Cowen Analyst Says

Key Points

• TD Cowen raised Exelixis’s price target to $76 from $55 and maintained a “buy” rating, implying 8.15% upside from the prior close.
• Exelixis shares rose 6.2% to $70.27 after the company reported quarterly EPS of $0.94 and revenue of $658.7 million, beating analyst estimates; revenue increased 10.2% year over year.
• Despite several bullish target increases, the analyst consensus remains “Hold,” with a $55.21 target price, reflecting valuation concerns and generally cautious ratings.

Exelixis (NASDAQ:EXEL - Get Free Report) had its target price boosted by equities researchers at TD Cowen from $55.00 to $76.00 in a report issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the biotechnology company's stock. TD Cowen's price objective points to a potential upside of 8.15% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Exelixis from $40.00 to $49.00 and gave the company an "equal weight" rating in a research report on Monday, July 13th. Citizens Jmp increased their price target on shares of Exelixis from $55.00 to $65.00 and gave the company a "market outperform" rating in a research note on Monday, October 19th. Wall Street Zen raised shares of Exelixis from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 24th. HC Wainwright reaffirmed a "buy" rating and set a $56.00 price objective on shares of Exelixis in a report on Thursday, July 2nd. Finally, UBS Group set a $55.00 target price on Exelixis in a research note on Monday, August 3rd. One 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, the stock presently has a consensus rating of "Hold" and a consensus target price of $55.21.

Exelixis Stock Up 6.2%

EXEL traded up $4.07 during trading on Friday, hitting $70.27. The company's stock had a trading volume of 2,466,067 shares, compared to its average volume of 2,575,533. The firm's 50 day moving average price is $59.07 and its two-hundred day moving average price is $50.79. Exelixis has a 12 month low of $36.00 and a 12 month high of $72.10. The stock has a market capitalization of $17.41 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 1.86 and a beta of 0.47.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The biotechnology company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.05. Exelixis had a return on equity of 42.17% and a net margin of 35.33%. The company had revenue of $658.70 million for the quarter, compared to analyst estimates of $646.51 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business's revenue was up 10.2% on a year-over-year basis. On average, sell-side 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 the stock in a transaction dated 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 owned 16,079 shares of the company's stock, valued at approximately $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of Exelixis

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Private Client Services LLC lifted its holdings in shares of Exelixis by 0.7% in the third quarter. Private Client Services LLC now owns 28,539 shares of the biotechnology company's stock worth $1,667,000 after buying an additional 209 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Exelixis by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company's stock valued at $2,549,000 after buying an additional 281 shares in the last quarter. Brindle & Bay Financial Advisors LLC increased its holdings in Exelixis by 8.0% during the 3rd quarter. Brindle & Bay Financial Advisors LLC now owns 4,105 shares of the biotechnology company's stock worth $240,000 after purchasing an additional 305 shares during the period. Soltis Investment Advisors LLC boosted its position in Exelixis by 7.0% during the 3rd quarter. Soltis Investment Advisors LLC now owns 4,868 shares of the biotechnology company's stock valued at $284,000 after acquiring an additional 320 shares in the last quarter. Finally, Mather Group LLC. increased its position in shares of Exelixis by 124.6% during 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 in the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis News Roundup

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Q3 earnings and revenue beat expectations. Exelixis reported adjusted earnings of $0.94 per share versus the $0.89 consensus estimate, while revenue rose 10.2% year over year to $658.7 million, exceeding expectations of $646.5 million. Profitability and operating cash flow also remained strong. Exelixis third-quarter earnings report
• Positive Sentiment: CABOMETYX continues to support the business. The company’s flagship cancer treatment helped drive the quarterly beat, while management highlighted continued pipeline development and plans to advance Wave 2 pivotal studies. Exelixis Q3 2026 earnings analysis
• Positive Sentiment: Zanzalintinib provides a near-term catalyst. Exelixis outlined a March 3, 2027 FDA PDUFA date, giving investors a defined timeline for a potential regulatory decision on the drug. Zanzalintinib FDA timeline
• Neutral Sentiment: Analysts raised their targets but remain cautious. Truist lifted its target to $60, RBC to $58 and Barclays to $54. All three maintained equivalent hold, sector-perform or equal-weight ratings, and each target remains below the current share price.
• Negative Sentiment: Valuation and insider activity may temper enthusiasm. The stock’s elevated valuation has prompted cautious analyst ratings, while reported insider transactions over the past six months consisted of sales and no purchases.

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.

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