Exelixis, Inc. (NASDAQ:EXEL) Stock Has Average Price Target of $58.85 According to Analysts

Key Points

• Analyst sentiment is mixed: Eighteen firms give Exelixis an average “Hold” rating, with 10 holds, six buys, one strong buy, and one sell. Their average 12-month price target is $58.85.
• Exelixis reported quarterly EPS of $0.94, above the $0.89 consensus, and revenue of $658.7 million, topping expectations and rising 10.2% year over year.
• Shares opened at $70.58, above the average analyst price target; they have traded between $39.71 and $73.69 over the past year.

Shares of Exelixis, Inc. (NASDAQ:EXEL - Get Free Report) have received an average rating of "Hold" from the eighteen research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $58.85.

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Exelixis from a "buy" rating to a "strong-buy" rating in a report on Monday. William Blair reissued an "outperform" rating on shares of Exelixis in a research report on Friday, September 11th. Barclays boosted their price objective on shares of Exelixis from $49.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, October 30th. Zacks Research upgraded shares of Exelixis from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 1st. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Exelixis in a research note on Monday, October 19th.

Exelixis Stock Performance

EXEL stock opened at $70.58 on Wednesday. The company has a market capitalization of $17.22 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.85 and a beta of 0.45. Exelixis has a one year low of $39.71 and a one year high of $73.69. The company's 50 day moving average price is $61.59 and its two-hundred day moving average price is $51.84.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its earnings results on Thursday, October 29th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.05. Exelixis had a net margin of 35.45% and a return on equity of 45.54%. The firm had revenue of $658.70 million for the quarter, compared to analysts' expectations of $646.51 million. During the same quarter last year, the business earned $0.78 earnings per share. The business's revenue was up 10.2% on a year-over-year basis. On average, research analysts predict that Exelixis will post 3.42 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXEL. Cassaday & Co Wealth Management LLC bought a new position in Exelixis during the 1st quarter valued at about $27,000. Western Wealth Management LLC bought a new stake in shares of Exelixis during the first quarter valued at approximately $29,000. Gen Wealth Partners Inc purchased a new stake in shares of Exelixis in the third quarter worth about $38,000. Mather Group LLC. lifted its position in shares of 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 buying an additional 420 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Exelixis in the second quarter worth about $46,000. Institutional investors own 85.27% of the company's stock.

About Exelixis

Exelixis, Inc. is a biotechnology company focused on discovering, developing and commercializing medicines for cancer. Founded in 1994 and headquartered in Alameda, California, the company has built its business around oncology treatments and continues to advance a pipeline of potential cancer therapies. Its principal marketed medicine is cabozantinib, sold in the United States as Cabometyx and Cometriq. Cabometyx is used to treat certain patients with advanced kidney, liver and thyroid cancers, while Cometriq is used for medullary thyroid cancer.

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