Exelixis (NASDAQ:EXEL) Price Target Raised to $49.00 at HC Wainwright

Exelixis (NASDAQ:EXEL) had its price objective raised by HC Wainwright from $46.00 to $49.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 24.86% from the stock’s current price.

EXEL has been the subject of a number of other research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of Exelixis in a research note on Tuesday, July 29th. Morgan Stanley dropped their price objective on Exelixis from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st. Cowen reaffirmed a “buy” rating on shares of Exelixis in a research note on Wednesday. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $45.00 target price on shares of Exelixis in a research report on Tuesday, October 21st. Finally, Zacks Research lowered Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have issued 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 price target of $44.89.

Exelixis Stock Up 3.5%

NASDAQ:EXEL traded up $1.35 during mid-day trading on Wednesday, hitting $39.25. 1,738,362 shares of the company traded hands, compared to its average volume of 2,956,094. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 0.79 and a beta of 0.38. The stock’s fifty day moving average price is $38.81 and its 200-day moving average price is $40.31. Exelixis has a one year low of $31.90 and a one year high of $49.62.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. The firm had revenue of $597.76 million during the quarter, compared to analyst estimates of $590.04 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. Exelixis has set its FY 2025 guidance at EPS. Equities analysts predict that Exelixis will post 2.04 EPS for the current year.

Institutional Investors Weigh In On Exelixis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXEL. Bank of New York Mellon Corp raised its position in Exelixis by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 2,476,857 shares of the biotechnology company’s stock valued at $91,446,000 after purchasing an additional 15,239 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in shares of Exelixis in the first quarter worth approximately $457,000. Penserra Capital Management LLC purchased a new stake in shares of Exelixis in the first quarter worth approximately $1,298,000. Envestnet Asset Management Inc. raised its holdings in shares of Exelixis by 23.9% in the first quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company’s stock worth $9,159,000 after buying an additional 47,845 shares during the period. Finally, TD Private Client Wealth LLC raised its holdings in shares of Exelixis by 29.5% in the first quarter. TD Private Client Wealth LLC now owns 12,944 shares of the biotechnology company’s stock worth $478,000 after buying an additional 2,950 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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.