Exelixis (NASDAQ:EXEL) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Exelixis has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, amidst varying price objectives set by multiple analysts.
• The company reported earnings of $0.75 per share for the most recent quarter, exceeding expectations, but its revenue fell by 10.8% compared to the previous year.
• Institutional investors hold 85.27% of Exelixis' stock, with several hedge funds increasing their stakes significantly in the first quarter of the year.

Exelixis (NASDAQ:EXEL - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Monday.

Other research analysts have also issued research reports about the company. Bank of America raised their price objective on Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. UBS Group set a $38.00 price objective on Exelixis and gave the company a "neutral" rating in a report on Wednesday, July 30th. HC Wainwright decreased their price objective on Exelixis from $53.00 to $46.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Truist Financial cut their target price on Exelixis from $56.00 to $49.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Finally, Zacks Research downgraded Exelixis from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Thirteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Exelixis currently has a consensus rating of "Moderate Buy" and an average price target of $44.06.

Exelixis Stock Performance

Shares of EXEL stock opened at $39.15 on Monday. The stock's fifty day moving average is $39.97 and its two-hundred day moving average is $39.65. The firm has a market capitalization of $10.54 billion, a P/E ratio of 18.82, a PEG ratio of 0.81 and a beta of 0.32. Exelixis has a fifty-two week low of $25.17 and a fifty-two week high of $49.62.

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

Institutional Trading of Exelixis

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its position in shares of Exelixis by 32.2% during the 1st quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company's stock worth $201,000 after purchasing an additional 1,328 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of Exelixis by 10.6% during the 1st quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company's stock worth $272,000 after purchasing an additional 707 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Exelixis by 23.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company's stock valued at $9,159,000 after acquiring an additional 47,845 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Exelixis during the first quarter worth about $233,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in Exelixis during the 1st quarter worth approximately $457,000. 85.27% of the stock is owned by institutional investors and hedge funds.

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.

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