HC Wainwright Increases Exelixis (NASDAQ:EXEL) Price Target to $56.00

Exelixis (NASDAQ:EXEL - Get Free Report) had its price target boosted by HC Wainwright from $54.00 to $56.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the biotechnology company's stock. HC Wainwright's target price would indicate a potential upside of 14.99% from the company's current price.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus increased their price objective on Exelixis from $44.00 to $47.00 and gave the stock a "hold" rating in a research note on Wednesday. Morgan Stanley lifted their target price on Exelixis from $49.00 to $50.00 and gave the company an "equal weight" rating in a research report on Wednesday. Weiss Ratings restated a "buy (b)" rating on shares of Exelixis in a report on Thursday, January 22nd. Truist Financial raised shares of Exelixis to a "strong-buy" rating in a research note on Monday, April 27th. Finally, Wells Fargo & Company increased their target price on shares of Exelixis from $35.00 to $40.00 and gave the stock an "equal weight" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Exelixis currently has an average rating of "Hold" and a consensus price target of $47.83.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $48.70 on Thursday. Exelixis has a 1 year low of $33.76 and a 1 year high of $49.62. The firm has a 50-day simple moving average of $43.41 and a two-hundred day simple moving average of $42.92. The company has a market cap of $12.37 billion, a P/E ratio of 16.18, a PEG ratio of 1.00 and a beta of 0.38.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.12. The company had revenue of $610.81 million during the quarter, compared to analysts' expectations of $607.51 million. Exelixis had a return on equity of 39.03% and a net margin of 35.08%.Exelixis's revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 EPS. As a group, equities research analysts expect that Exelixis will post 3.07 EPS for the current year.

Insider Activity at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 30,617 shares of Exelixis stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $43.67, for a total transaction of $1,337,044.39. Following the completion of the sale, the chief financial officer directly owned 976,092 shares in the company, valued at approximately $42,625,937.64. The trade was a 3.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Dana Aftab sold 47,918 shares of the company's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the completion of the sale, the executive vice president directly owned 616,106 shares in the company, valued at $27,416,717. This trade represents a 7.22% 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 three months. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Exelixis

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in Exelixis by 48.8% during the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company's stock worth $598,647,000 after purchasing an additional 4,477,029 shares during the period. Farallon Capital Management LLC boosted its stake in shares of Exelixis by 21.6% in the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company's stock worth $805,412,000 after buying an additional 3,466,000 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Exelixis by 1,230.8% in the third quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company's stock worth $131,994,000 after buying an additional 2,955,813 shares during the last quarter. Norges Bank acquired a new stake in Exelixis during the fourth quarter worth about $106,460,000. Finally, Allianz Asset Management GmbH grew its holdings in Exelixis by 153.3% during the third quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company's stock worth $101,720,000 after acquiring an additional 1,490,520 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

More Exelixis News

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Q1 results beat on EPS and showed solid margins and y/y revenue growth — EPS of $0.87 topped consensus and management highlighted commercial durability for cabozantinib (Cabometyx), supporting near-term cash flow and profitability. EXEL Q1 Earnings Top Estimates
• Positive Sentiment: Company authorized a $750M share buyback, which management and analysts say should be EPS-accretive and support the stock as repurchases reduce share count. PDUFA timeline and $750M buyback
• Positive Sentiment: Several analysts raised price targets and reiterated support — Morgan Stanley lifted its PT to $50 (maintained Equal Weight) and TD Cowen boosted its PT to $55, reflecting confidence in Cabo momentum and buyback-driven EPS upside. MS PT raised to $50 TD Cowen PT $55
• Neutral Sentiment: FY‑2026 revenue guidance was given in a $2.5B–$2.6B range — roughly in-line with consensus but at the low end of estimates; investors may view guidance as cautious, limiting upside until growth re-accelerates. Press release and guidance
• Neutral Sentiment: Street commentary (RBC, Stifel) expects Exelixis to trade in line with peers given modest drug growth and competitive pressures on the RCC franchise — suggests limited near-term volatility absent clear pipeline news. RBC: trading steady
• Negative Sentiment: Analysts and management flagged pipeline uncertainty around ZANZA (zanzalintinib) despite a December PDUFA timeline — approval/study risks remain a key upside/downside catalyst. Earnings call highlights and ZANZA risks
• Negative Sentiment: Some firms show conservative views — Wells Fargo’s PT sits lower (raised to $40 but still implying notable downside), underscoring divergent analyst opinions and potential near-term downside if growth disappoints. Wells Fargo note (summary)

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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