Exelixis (NASDAQ:EXEL) Price Target Raised to $50.00

Key Points

• Morgan Stanley raised its price target to $50 (from $49) but kept an "equal weight" rating, implying only about a 2.9% upside from the prior close.
• Exelixis beat Q1 EPS expectations ($0.87 vs. $0.75) with revenue roughly in line at $610.8M and announced a $750M buyback, driving shares up about 9.4% intraday to $48.58.
• The analyst backdrop is mixed—MarketBeat consensus is a "Hold" with a $47.72 target—and insiders have sold sizable stock positions (362,849 shares valued at ~$15.9M over the past 90 days), signaling some caution.

Exelixis (NASDAQ:EXEL - Get Free Report) had its price target upped by research analysts at Morgan Stanley from $49.00 to $50.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the biotechnology company's stock. Morgan Stanley's price objective indicates a potential upside of 2.92% from the company's previous close.

EXEL has been the topic of a number of other reports. Royal Bank Of Canada dropped their price objective on Exelixis from $46.00 to $43.00 and set a "sector perform" rating on the stock in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Exelixis in a research report on Thursday, January 22nd. HC Wainwright raised their price target on shares of Exelixis from $52.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, February 12th. Wells Fargo & Company upped their price objective on shares of Exelixis from $35.00 to $40.00 and gave the company an "equal weight" rating in a research report on Wednesday. Finally, Barclays boosted their price target on Exelixis from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $47.72.

Exelixis Stock Up 9.4%

Shares of EXEL traded up $4.16 during mid-day trading on Wednesday, reaching $48.58. The company's stock had a trading volume of 3,575,193 shares, compared to its average volume of 2,718,939. The business has a fifty day moving average of $43.32 and a 200 day moving average of $42.86. The company has a market cap of $12.34 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 0.99 and a beta of 0.38. Exelixis has a 1 year low of $33.76 and a 1 year high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.75 by $0.12. The company had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. Exelixis's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 EPS. On average, analysts predict that Exelixis will post 3.07 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In related news, EVP Patrick J. Haley sold 67,814 shares of the firm's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $43.52, for a total value of $2,951,265.28. Following the transaction, the executive vice president owned 381,908 shares in the company, valued at $16,620,636.16. This trade represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack L. Wyszomierski sold 99,574 shares of the business's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total value of $4,382,251.74. Following the sale, the director directly owned 279,942 shares of the company's stock, valued at $12,320,247.42. This represents a 26.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 362,849 shares of company stock valued at $15,917,463 over the last ninety days. Company insiders own 2.60% of the company's stock.

Institutional Trading of Exelixis

A number of institutional investors have recently bought and sold shares of EXEL. Richardson Financial Services Inc. increased its holdings in Exelixis by 95.1% in the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company's stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. Anchor Investment Management LLC raised its position in shares of Exelixis by 500.0% in the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 500 shares during the period. Motiv8 Investments LLC bought a new position in Exelixis during the 4th quarter worth approximately $26,000. Root Financial Partners LLC acquired a new position in Exelixis during the third quarter valued at approximately $28,000. Finally, Acumen Wealth Advisors LLC bought a new stake in Exelixis in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Trending Headlines about Exelixis

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Q1 EPS beat and margin improvement — Exelixis reported $0.87 GAAP EPS vs. $0.75 consensus and showed strong profitability metrics, which supports near‑term earnings visibility. Exelixis (EXEL) Tops Q1 Earnings Estimates
• Positive Sentiment: $750M buyback announced and management commentary — Company disclosed a $750M repurchase authorization tied to buyback‑driven EPS accretion, a clear driver of shareholder value and a reason for the stock’s upward move. Exelixis outlines December PDUFA timeline for ZANZA CRC filing while adding $750M buyback
• Positive Sentiment: Analysts lift targets and reiterate buys — Several firms raised price targets (e.g., TD Cowen to $55 and Morgan Stanley to $50) or reiterated bullish views citing Cabo durability and buyback EPS support, which underpins the rally. Exelixis Price Target Raised to $55 Price Target Raised to $50 (Morgan Stanley)
• Neutral Sentiment: Revenue roughly flat to expectations — Q1 revenue of ~$610.8M was essentially in line with consensus (slight miss in some reports), and FY2026 revenue guidance was reiterated/updated to about $2.5–2.6B, leaving room for debate about growth pacing vs. street models. Exelixis (EXEL) Tops Q1 Earnings Estimates (Yahoo)
• Neutral Sentiment: Conference call and transcripts available — Management discussed Cabo durability, Zanzalintinib regulatory timelines (December PDUFA for CRC filing referenced) and execution priorities; useful for investors wanting detail but not an immediate price catalyst. Earnings Call Transcript Earnings Call Summary
• Negative Sentiment: Cabometyx sales momentum mixed — Some reports note Cabometyx sales lagged estimates, and analysts flag competitive pressure and pipeline uncertainty as risks to sustained top‑line growth. EXEL Q1 Earnings Top Estimates, Colorectal Cancer Drug in Focus
• Negative Sentiment: Mixed analyst stance — Some firms (e.g., Wells Fargo) raised price targets but kept neutral/equal‑weight ratings, signaling potential downside from current levels and that enthusiasm is not unanimous. Benzinga (Wells Fargo note)

About Exelixis

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.

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