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Leerink Partners Upgrades Exelixis (NASDAQ:EXEL) to "Outperform"

Exelixis logo with Medical background

Key Points

  • Leerink Partners has upgraded Exelixis (NASDAQ:EXEL) from a "market perform" rating to an "outperform" rating with a new price target of $48.00, indicating a potential upside of nearly 39% from the current price.
  • Other firms including Stifel Nicolaus and JMP Securities have also increased their price targets for Exelixis, suggesting a consensus rating of "Moderate Buy" across multiple analysts.
  • Exelixis reported $568.26 million in revenue for the last quarter, down 10.8% year-over-year, but beat earnings per share estimates with $0.75 EPS.
  • Five stocks to consider instead of Exelixis.

Exelixis (NASDAQ:EXEL - Get Free Report) was upgraded by research analysts at Leerink Partners from a "market perform" rating to an "outperform" rating in a report issued on Tuesday,Finviz reports. The brokerage currently has a $48.00 price target on the biotechnology company's stock. Leerink Partners' price objective would suggest a potential upside of 38.97% from the stock's current price.

A number of other research analysts have also commented on the stock. Stifel Nicolaus raised their price objective on shares of Exelixis from $38.00 to $41.00 and gave the company a "hold" rating in a research note on Tuesday, July 29th. Citigroup restated a "market outperform" rating on shares of Exelixis in a research report on Tuesday. JMP Securities restated a "market outperform" rating and issued a $50.00 price target on shares of Exelixis in a research report on Tuesday, July 29th. Stephens upgraded shares of Exelixis from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $29.00 to $60.00 in a research report on Tuesday, June 24th. Finally, Wall Street Zen upgraded shares of Exelixis from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Exelixis presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.16.

View Our Latest Stock Report on EXEL

Exelixis Trading Down 12.0%

Shares of NASDAQ:EXEL opened at $34.54 on Tuesday. Exelixis has a 52 week low of $27.86 and a 52 week high of $49.62. The firm has a market capitalization of $9.30 billion, a P/E ratio of 16.61, a PEG ratio of 0.79 and a beta of 0.38. The firm's 50 day moving average is $38.76 and its two-hundred day moving average is $40.04.

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, beating analysts' consensus estimates of $0.63 by $0.12. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The business had revenue of $568.26 million for the quarter, compared to analyst estimates of $574.36 million. During the same quarter last year, the business earned $0.84 earnings per share. The business's revenue for the quarter was down 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. Analysts predict that Exelixis will post 2.04 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EXEL. Hemington Wealth Management lifted its position in Exelixis by 211.3% during the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 522 shares during the last quarter. Byrne Asset Management LLC raised its position in shares of Exelixis by 129.0% during the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company's stock valued at $31,000 after buying an additional 400 shares during the last quarter. Luminist Capital LLC raised its position in shares of Exelixis by 2,740.0% during the second quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company's stock valued at $31,000 after buying an additional 685 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Exelixis during the second quarter valued at about $33,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in shares of Exelixis during the first quarter valued at about $37,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Company Profile

(Get Free Report)

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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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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