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

Key Points

• Exelixis stock has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating a bullish outlook on the company's performance.
• Barclays raised their price objective for Exelixis shares from $29 to $40, while several analysts have set price targets around $50, reflecting positive sentiment towards the stock.
• Exelixis reported $0.75 earnings per share for the last quarter, surpassing expectations, although revenue declined by 10.8% year-over-year.

Exelixis (NASDAQ:EXEL - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Sunday.

A number of other research analysts have also issued reports on the stock. Bank of America upped their price target on shares of Exelixis from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Royal Bank Of Canada cut their price target on shares of Exelixis from $50.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 29th. Citigroup upped their price target on shares of Exelixis from $45.00 to $56.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Jefferies Financial Group set a $50.00 price target on shares of Exelixis and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, HC Wainwright cut their price target on shares of Exelixis from $53.00 to $46.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Exelixis has a consensus rating of "Moderate Buy" and a consensus price target of $44.06.

Exelixis Stock Down 1.5%

Shares of NASDAQ EXEL traded down $0.58 during trading hours on Friday, hitting $37.70. 2,550,606 shares of the stock were exchanged, compared to its average volume of 3,002,465. The company has a market cap of $10.15 billion, a PE ratio of 18.13, a PEG ratio of 0.78 and a beta of 0.32. The firm has a fifty day moving average price of $40.38 and a 200-day moving average price of $39.61. Exelixis has a 12 month low of $25.17 and a 12 month high of $49.62.

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

Institutional Trading of Exelixis

A number of hedge funds have recently added to or reduced their stakes in EXEL. Nuveen LLC purchased a new stake in Exelixis during the first quarter worth $123,310,000. AQR Capital Management LLC boosted its holdings in Exelixis by 73.8% during the first quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company's stock worth $250,869,000 after buying an additional 2,926,884 shares in the last quarter. Norges Bank purchased a new stake in Exelixis during the second quarter worth $122,099,000. Qube Research & Technologies Ltd boosted its holdings in Exelixis by 120.5% during the second quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company's stock worth $134,306,000 after buying an additional 1,665,110 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Exelixis by 40.2% during the first quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company's stock worth $205,725,000 after buying an additional 1,596,948 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Company Profile

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.