Wall Street Zen Upgrades Exelixis (NASDAQ:EXEL) to "Buy"

Key Points

• Wall Street Zen has upgraded Exelixis (NASDAQ: EXEL) from a "hold" rating to a "buy" rating, reflecting increased confidence in the company's stock performance.
• Several analysts, including Guggenheim and Jefferies Financial Group, have set price targets for Exelixis between $45.00 and $50.00, with a consensus rating of "Moderate Buy".
• Exelixis reported a quarterly earnings per share of $0.75, exceeding analysts' expectations of $0.63, despite a year-over-year revenue decline of 10.8% to $568.26 million.

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

Other equities research analysts have also issued research reports about the stock. Guggenheim reissued a "buy" rating and set a $45.00 price objective on shares of Exelixis in a report on Tuesday, July 29th. 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. JMP Securities reissued a "market outperform" rating and issued a $50.00 price target on shares of Exelixis in a report on Tuesday, July 29th. Stephens raised Exelixis from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $29.00 to $60.00 in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada decreased their price objective on Exelixis from $50.00 to $45.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 29th. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.42.

Exelixis Price Performance

Shares of EXEL traded down $1.26 on Friday, hitting $40.09. The company's stock had a trading volume of 2,211,122 shares, compared to its average volume of 2,456,938. The company has a market capitalization of $10.79 billion, a PE ratio of 19.27, a PEG ratio of 0.85 and a beta of 0.38. Exelixis has a fifty-two week low of $25.17 and a fifty-two week high of $49.62. The company has a 50 day moving average price of $38.57 and a 200 day moving average price of $39.85.

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 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 company had revenue of $568.26 million for the quarter, compared to analyst estimates of $574.36 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business's revenue was down 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Exelixis will post 2.04 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Corient Private Wealth LLC increased its stake in Exelixis by 71.5% in the second quarter. Corient Private Wealth LLC now owns 117,830 shares of the biotechnology company's stock valued at $5,193,000 after purchasing an additional 49,123 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Exelixis by 2.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 438,466 shares of the biotechnology company's stock valued at $19,325,000 after buying an additional 12,284 shares during the period. Osaic Holdings Inc. increased its position in shares of Exelixis by 151.9% in the 2nd quarter. Osaic Holdings Inc. now owns 68,276 shares of the biotechnology company's stock valued at $2,890,000 after buying an additional 41,167 shares in the last quarter. American Trust acquired a new stake in Exelixis during the 2nd quarter worth $215,000. Finally, Centaurus Financial Inc. bought a new position in Exelixis during the second quarter worth about $274,000. Institutional investors own 85.27% of the company's stock.

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.

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.