UBS Group Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its target price increased by research analysts at UBS Group from $35.00 to $40.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s target price points to a potential downside of 1.34% from the stock’s current price.

A number of other analysts have also commented on EXEL. TD Cowen raised their price target on Exelixis from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research note on Tuesday, July 29th. Wells Fargo & Company decreased their price objective on Exelixis from $36.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Truist Financial decreased their price objective on Exelixis from $56.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. Finally, Barclays increased their price objective on Exelixis from $40.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.45.

Exelixis Stock Performance

EXEL stock traded up $0.18 on Thursday, reaching $40.55. The company’s stock had a trading volume of 856,774 shares, compared to its average volume of 2,961,421. The business has a fifty day simple moving average of $38.84 and a two-hundred day simple moving average of $40.31. Exelixis has a 12-month low of $31.90 and a 12-month high of $49.62. The firm has a market cap of $10.91 billion, a PE ratio of 19.49, a PEG ratio of 0.79 and a beta of 0.38.

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

Hedge Funds Weigh In On Exelixis

Institutional investors and hedge funds have recently modified their holdings of the stock. Richardson Financial Services Inc. increased its holdings 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 acquiring an additional 292 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Exelixis during the third quarter valued at $28,000. Byrne Asset Management LLC increased its holdings 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 acquiring an additional 400 shares in the last quarter. Luminist Capital LLC increased its holdings in Exelixis by 2,740.0% in the 2nd quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after buying an additional 685 shares in the last quarter. Finally, Family Legacy Financial Solutions LLC bought a new stake in Exelixis in the 2nd quarter worth about $33,000. 85.27% of the stock is currently owned by institutional investors.

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.