Exelixis (NASDAQ:EXEL) Raised to Strong-Buy at Wall Street Zen

Exelixis (NASDAQ:EXEL) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Several other research analysts also recently issued reports on the stock. Leerink Partners upgraded shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research note on Tuesday, October 21st. HC Wainwright increased their price objective on shares of Exelixis from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. The Goldman Sachs Group assumed coverage on shares of Exelixis in a research note on Wednesday, September 17th. They issued a “buy” rating and a $47.00 price objective on the stock. Leerink Partnrs raised shares of Exelixis from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Finally, Stifel Nicolaus set a $43.00 price target on shares of Exelixis in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Exelixis has an average rating of “Moderate Buy” and an average price target of $45.45.

Exelixis Stock Performance

Exelixis stock opened at $40.81 on Friday. Exelixis has a fifty-two week low of $31.90 and a fifty-two week high of $49.62. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 0.79 and a beta of 0.32. The stock’s 50 day simple moving average is $38.97 and its two-hundred day simple moving average is $40.40.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share (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 business had revenue of $597.76 million during the quarter, compared to the consensus estimate of $590.04 million. During the same quarter in the prior year, the company earned $0.47 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Exelixis has set its FY 2025 guidance at EPS. On average, analysts predict that Exelixis will post 2.04 earnings per share for the current year.

Hedge Funds Weigh In On Exelixis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Truist Financial Corp lifted its position in 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 purchasing an additional 250 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in 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 raised 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 acquiring an additional 285 shares during the period. Richardson Financial Services Inc. increased its stake in shares of Exelixis by 95.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 292 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its holdings in Exelixis by 6.4% in the third quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company’s stock valued at $225,000 after purchasing an additional 329 shares during the period. 85.27% of the stock is owned by 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.