Exelixis (NASDAQ:EXEL) Receives “Sector Perform” Rating from Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their sector perform rating on shares of Exelixis (NASDAQ:EXEL) in a report released on Tuesday morning,Benzinga reports. They currently have a $45.00 price objective on the biotechnology company’s stock.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group set a $50.00 price objective on shares of Exelixis and gave the company a “buy” rating in a research note on Tuesday, June 24th. Morgan Stanley increased their price target on Exelixis from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of Exelixis in a research report on Tuesday, July 29th. Barclays started coverage on Exelixis in a research note on Wednesday, September 17th. They issued an “equal weight” rating and a $40.00 target price for the company. Finally, Guggenheim reissued a “buy” rating and issued a $45.00 price target on shares of Exelixis in a research note on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and an average target price of $44.53.

Exelixis Trading Up 4.6%

Shares of EXEL opened at $36.13 on Tuesday. The company has a 50-day moving average of $38.73 and a two-hundred day moving average of $40.02. The stock has a market cap of $9.73 billion, a P/E ratio of 17.37, a PEG ratio of 0.69 and a beta of 0.38. Exelixis has a 12-month low of $27.86 and a 12-month high of $49.62.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $574.36 million. During the same period last year, the company posted $0.84 EPS. The company’s revenue was down 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. As a group, analysts forecast that Exelixis will post 2.04 EPS for the current fiscal year.

Institutional Trading of Exelixis

Institutional investors and hedge funds have recently bought and sold shares of the business. Truist Financial Corp boosted its position in Exelixis by 1.1% during the 2nd quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company’s stock worth $983,000 after purchasing an additional 250 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Exelixis by 0.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock worth $4,521,000 after purchasing an additional 274 shares in the last quarter. Frank Rimerman Advisors LLC boosted its position in shares of Exelixis by 4.7% in the first quarter. Frank Rimerman Advisors LLC now owns 6,342 shares of the biotechnology company’s stock worth $234,000 after buying an additional 285 shares during the period. Rathbones Group PLC grew its stake in shares of Exelixis by 5.3% in the first quarter. Rathbones Group PLC now owns 6,847 shares of the biotechnology company’s stock valued at $253,000 after buying an additional 347 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Exelixis by 9.2% in the first quarter. Larson Financial Group LLC now owns 4,367 shares of the biotechnology company’s stock valued at $161,000 after buying an additional 367 shares in the last quarter. Institutional investors and hedge funds 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.