Wells Fargo & Company Forecasts Strong Price Appreciation for Exelixis (NASDAQ:EXEL) Stock

Exelixis (NASDAQ:EXEL) had its price objective increased by investment analysts at Wells Fargo & Company from $35.00 to $40.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 13.39% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada decreased their price target on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Stifel Nicolaus raised their price target on shares of Exelixis from $43.00 to $44.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. Morgan Stanley raised their price target on shares of Exelixis from $48.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. Zacks Research cut shares of Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Finally, Wall Street Zen cut shares of Exelixis from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.28.

Exelixis Stock Performance

NASDAQ:EXEL traded up $1.76 during midday trading on Wednesday, reaching $46.18. 1,098,446 shares of the stock traded hands, compared to its average volume of 2,688,352. Exelixis has a 12-month low of $33.76 and a 12-month high of $49.62. The business has a 50-day moving average of $43.32 and a two-hundred day moving average of $42.86. The stock has a market capitalization of $11.73 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 0.99 and a beta of 0.38.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The company had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. Exelixis’s revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts anticipate that Exelixis will post 3.07 earnings per share for the current year.

Insider Transactions at Exelixis

In other news, EVP Dana Aftab sold 47,918 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total value of $2,132,351.00. Following the sale, the executive vice president owned 616,106 shares in the company, valued at $27,416,717. This represents a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brenda Hefti sold 18,669 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total transaction of $821,622.69. Following the completion of the sale, the senior vice president owned 96,512 shares in the company, valued at $4,247,493.12. The trade was a 16.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 362,849 shares of company stock valued at $15,917,463. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Exelixis

A number of hedge funds and other institutional investors have recently made changes to their positions in EXEL. Richardson Financial Services Inc. increased its stake in shares of Exelixis by 95.1% in the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 292 shares during the period. Anchor Investment Management LLC increased its stake in shares of Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 500 shares during the period. Motiv8 Investments LLC acquired a new stake in shares of Exelixis in the fourth quarter worth $26,000. Root Financial Partners LLC acquired a new stake in Exelixis during the third quarter valued at $28,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in Exelixis during the fourth quarter valued at $29,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis News Roundup

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Q1 results beat expectations — EPS $0.87 vs. $0.75 consensus and revenue $610.8M (up 10% y/y), with strong margins that support profitability and cash generation. This is the main immediate driver of the stock move. Read More.
• Positive Sentiment: Board authorized a $750M buyback and the company outlined a December PDUFA target for Zanzalintinib in colorectal cancer (CRC) — buybacks support EPS and the PDUFA provides clearer binary clinical/regulatory upside. Read More.
• Positive Sentiment: Bullish analyst action: TD Cowen raised its price target to $55 and reiterated a Buy, citing Cabometyx (cabozantinib) momentum and buyback-driven EPS growth — supportive to investor sentiment. Read More.
• Neutral Sentiment: FY-2026 revenue guidance set roughly in a $2.5B–$2.6B range (vs. consensus ~ $2.6B), indicating growth but offering limited upside surprise versus estimates — keeps near-term expectations mixed. Read More.
• Neutral Sentiment: Earnings call and transcripts highlight durable Cabometyx franchise and STELLAR-304 momentum; management framed progress across commercial and R&D programs but emphasized ongoing pipeline readouts to watch. Read More.
• Negative Sentiment: Morgan Stanley kept a Hold rating, noting that cabozantinib momentum is offset by pipeline uncertainty — a reminder that longer‑term upside depends on clinical/regulatory outcomes beyond the current top-line performance. Read More.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.