Exelixis (NASDAQ:EXEL) Upgraded at Leerink Partnrs

Key Points

• Exelixis was upgraded from a "hold" rating to a "strong-buy" by Leerink Partners, reflecting growing analyst confidence in the stock.
• The company's quarterly earnings report revealed $0.75 EPS, exceeding analysts' expectations, even as revenue decreased by 10.8% year-over-year.
• Institutional investors control 85.27% of Exelixis's shares, indicating strong institutional interest in the company.

Exelixis (NASDAQ:EXEL - Get Free Report) was upgraded by Leerink Partnrs from a "hold" rating to a "strong-buy" rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on EXEL. Benchmark reaffirmed a "neutral" rating on shares of Exelixis in a research report on Monday, June 23rd. Wall Street Zen raised Exelixis from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Guggenheim reaffirmed a "buy" rating and set a $45.00 price objective on shares of Exelixis in a research report on Tuesday, July 29th. Wells Fargo & Company dropped their price objective on Exelixis from $36.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Finally, William Blair reaffirmed an "outperform" rating on shares of Exelixis in a research report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.53.

Exelixis Trading Up 4.6%

EXEL opened at $36.13 on Tuesday. Exelixis has a 12-month low of $27.86 and a 12-month high of $49.62. The business's fifty day simple moving average is $38.73 and its 200-day simple moving average is $40.02. The company has a market capitalization of $9.73 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.69 and a beta of 0.38.

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

Institutional Investors Weigh In On Exelixis

Several institutional investors have recently added to or reduced their stakes in EXEL. Hemington Wealth Management boosted its holdings in Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 522 shares in the last quarter. Byrne Asset Management LLC raised its stake in shares of Exelixis by 129.0% in the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 400 shares during the last quarter. Luminist Capital LLC raised its stake in shares of Exelixis by 2,740.0% in the second quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 685 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new position in shares of Exelixis in the second quarter worth about $33,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in shares of Exelixis in the first quarter worth about $37,000. Institutional investors and hedge funds own 85.27% of the company's stock.

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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