TD Cowen Forecasts Strong Price Appreciation for Exelixis (NASDAQ:EXEL) Stock

Exelixis (NASDAQ:EXEL) had its price objective upped by research analysts at TD Cowen from $44.00 to $51.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. TD Cowen’s price objective would suggest a potential upside of 26.47% from the stock’s previous close.

Several other brokerages also recently commented on EXEL. Morgan Stanley boosted their price objective on Exelixis from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday. Zacks Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. The Goldman Sachs Group assumed coverage on Exelixis in a report on Wednesday, September 17th. They issued a “buy” rating and a $47.00 target price on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a report on Tuesday, October 21st. Finally, Guggenheim cut Exelixis from a “buy” rating to a “neutral” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.35.

Exelixis Trading Up 6.4%

NASDAQ EXEL traded up $2.43 on Wednesday, hitting $40.33. 2,851,020 shares of the company traded hands, compared to its average volume of 2,961,226. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 0.79 and a beta of 0.38. The business’s 50 day moving average price is $38.81 and its 200-day moving average price is $40.31. Exelixis has a 52-week low of $31.90 and a 52-week high of $49.62.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.10. The company had revenue of $597.76 million for the quarter, compared to the consensus estimate of $590.04 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.Exelixis’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 earnings per share. Exelixis has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Exelixis will post 2.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Truist Financial Corp boosted its position in shares of Exelixis by 1.1% during the second quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company’s stock valued at $983,000 after buying an additional 250 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its position 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 valued at $4,521,000 after buying an additional 274 shares during the period. Frank Rimerman Advisors LLC boosted its position in shares of Exelixis by 4.7% during the first quarter. Frank Rimerman Advisors LLC now owns 6,342 shares of the biotechnology company’s stock valued at $234,000 after buying an additional 285 shares during the period. Richardson Financial Services Inc. boosted its position in shares of Exelixis by 95.1% during the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 292 shares during the period. Finally, Evergreen Capital Management LLC boosted its position in shares of Exelixis by 6.4% during the third quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company’s stock valued at $225,000 after buying an additional 329 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

About Exelixis

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.