Exelixis (NASDAQ:EXEL) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Exelixis from “strong buy” to “buy,” while broader analyst sentiment remains “hold,” with seven buys, 10 holds and two sells and an average price target of $49.79.
• Exelixis reported quarterly EPS of $0.91, beating estimates of $0.85, while revenue rose 10.6% year over year to $628.69 million but fell short of expectations.
• The stock traded at $54.07, near its 12-month high, as the company advanced a Phase 3 colorectal cancer trial for zanzalintinib; however, slower-than-expected NET adoption prompted a $50 million reduction to the midpoint of its 2026 revenue outlook.

Exelixis (NASDAQ:EXEL - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

Several other brokerages have also commented on EXEL. Weiss Ratings lowered Exelixis from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, July 24th. Citizens Jmp raised their price objective on Exelixis from $50.00 to $55.00 and gave the stock a "market outperform" rating in a research report on Wednesday, June 24th. Stifel Nicolaus boosted their price objective on shares of Exelixis from $47.00 to $51.00 and gave the company a "hold" rating in a report on Thursday. Zacks Research cut shares of Exelixis from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. Finally, Truist Financial lowered their target price on shares of Exelixis from $56.00 to $52.00 and set a "hold" rating for the company in a research note on Thursday. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $49.79.

Exelixis Trading Up 3.6%

Shares of EXEL stock opened at $54.07 on Friday. The company's 50-day moving average price is $54.17 and its 200-day moving average price is $47.94. The stock has a market cap of $13.59 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.51 and a beta of 0.44. Exelixis has a twelve month low of $33.76 and a twelve month high of $57.57.

Exelixis (NASDAQ:EXEL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. The firm had revenue of $628.69 million for the quarter, compared to analysts' expectations of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 earnings per share. As a group, equities research analysts predict that Exelixis will post 3.15 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jack L. Wyszomierski sold 3,925 shares of Exelixis stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.55, for a total value of $198,408.75. Following the completion of the transaction, the director directly owned 284,384 shares in the company, valued at approximately $14,375,611.20. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue Gail Eckhardt sold 9,812 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.14, for a total value of $491,973.68. Following the transaction, the director directly owned 16,079 shares of the company's stock, valued at $806,201.06. The trade was a 37.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 130,824 shares of company stock valued at $6,555,231. 2.60% of the stock is owned by company insiders.

Institutional Trading of Exelixis

Large investors have recently made changes to their positions in the company. Stephens Investment Management Group LLC lifted its position in shares of Exelixis by 1.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company's stock worth $111,303,000 after buying an additional 28,265 shares during the last quarter. Cibc World Market Inc. grew its position in shares of Exelixis by 462.3% in the 4th quarter. Cibc World Market Inc. now owns 38,904 shares of the biotechnology company's stock valued at $1,705,000 after buying an additional 31,985 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Exelixis by 79.5% during the 4th quarter. BNP Paribas Financial Markets now owns 1,117,936 shares of the biotechnology company's stock worth $48,999,000 after acquiring an additional 495,247 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Exelixis by 111.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,115,456 shares of the biotechnology company's stock worth $92,720,000 after acquiring an additional 1,113,916 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Exelixis in the fourth quarter valued at $7,383,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis News Roundup

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Exelixis reported second-quarter EPS of $0.91, ahead of the $0.85-$0.86 analyst consensus and up from $0.75 a year earlier. Revenue rose 10.6% year over year to approximately $628.7 million, while the company continues to benefit from its established cabozantinib business. Exelixis Q2 earnings
• Positive Sentiment: The company launched a new Phase 3 trial testing zanzalintinib in residual colorectal cancer, expanding the potential market for its pipeline and providing another long-term growth catalyst. Exelixis colorectal cancer trial
• Positive Sentiment: TD Cowen reaffirmed a Buy rating and a $55 price target, citing resilience in cabozantinib, cost discipline and upside from zanzalintinib despite near-term guidance pressure.
• Neutral Sentiment: Stifel raised its price target from $47 to $51 but retained a Hold rating. Its target remains below the recent trading level, suggesting limited near-term upside in the analyst’s view.
• Negative Sentiment: Exelixis lowered the midpoint of its 2026 revenue outlook by $50 million, primarily because the NET launch has been slower than expected. Although the EPS beat was encouraging, the revenue miss and reduced outlook are weighing on growth expectations. Exelixis 2026 guidance
• Negative Sentiment: Leerink Partners downgraded EXEL from Outperform to Market Perform and set a $52 price target, below the recent share price. Leerink Partners downgrade
• Negative Sentiment: Zacks Research maintains a Strong Sell rating and made small reductions to its FY2026-FY2028 EPS forecasts, including a FY2026 estimate of $3.12 versus the broader consensus of $3.15.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis's translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company's most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary 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.

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