Barclays Upgrades Exelixis (NASDAQ:EXEL) to Hold

Key Points

• Exelixis has been upgraded to a "hold" rating by Barclays, indicating a more stable outlook for the stock after a period of fluctuating ratings from various brokerages.
• The biotechnology company's stock has a market cap of $10.89 billion and has experienced a 12-month price range of $25.17 to $49.62.
• Exelixis reported earnings per share of $0.75 for the last quarter, exceeding analyst expectations, although revenue was down 10.8% year-over-year.

Barclays upgraded shares of Exelixis (NASDAQ:EXEL - Free Report) to a hold rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. William Blair reissued an "outperform" rating on shares of Exelixis in a research report on Tuesday, July 29th. Truist Financial decreased their price objective on shares of Exelixis from $56.00 to $49.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Stifel Nicolaus upped their price objective on shares of Exelixis from $38.00 to $41.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. JMP Securities restated a "market outperform" rating and issued a $50.00 price objective on shares of Exelixis in a report on Tuesday, July 29th. Finally, Guggenheim restated a "buy" rating and issued a $45.00 price objective on shares of Exelixis in a report on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $44.42.

Exelixis Price Performance

EXEL traded down $0.52 during trading on Tuesday, hitting $39.58. 2,062,361 shares of the stock traded hands, compared to its average volume of 2,582,993. The firm has a market capitalization of $10.65 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 0.83 and a beta of 0.32. The firm has a 50-day moving average of $39.40 and a 200 day moving average of $39.71. Exelixis has a 12-month low of $25.17 and a 12-month high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.12. The business had revenue of $568.26 million during the quarter, compared to analysts' expectations of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The firm's revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Exelixis will post 2.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EXEL. Quantinno Capital Management LP bought a new position in shares of Exelixis in the 4th quarter worth about $559,000. Tidal Investments LLC increased its stake in shares of Exelixis by 187.8% in the 4th quarter. Tidal Investments LLC now owns 104,665 shares of the biotechnology company's stock worth $3,485,000 after acquiring an additional 68,299 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of Exelixis in the 4th quarter worth about $247,000. Voloridge Investment Management LLC bought a new position in shares of Exelixis in the 4th quarter worth about $30,321,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Exelixis by 4.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 844,345 shares of the biotechnology company's stock worth $28,117,000 after acquiring an additional 33,804 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.