Exelixis (NASDAQ:EXEL) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Exelixis (NASDAQ:EXEL) in a report released on Wednesday, Marketbeat reports. The firm issued a buy rating and a $47.00 price target on the biotechnology company’s stock.

A number of other equities analysts have also issued reports on EXEL. UBS Group set a $38.00 target price on shares of Exelixis and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Stephens raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $29.00 to $60.00 in a research report on Tuesday, June 24th. Jefferies Financial Group set a $50.00 price objective on shares of Exelixis and gave the stock a “buy” rating in a research report on Tuesday, June 24th. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Tuesday, July 29th. Finally, JMP Securities reissued a “market outperform” rating and set a $50.00 price target on shares of Exelixis in a report on Tuesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.42.

Exelixis Price Performance

NASDAQ EXEL opened at $40.10 on Wednesday. The company has a market capitalization of $10.79 billion, a PE ratio of 19.28, a P/E/G ratio of 0.83 and a beta of 0.32. Exelixis has a 1 year low of $25.17 and a 1 year high of $49.62. The company has a fifty day moving average of $39.52 and a two-hundred day moving average of $39.68.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. The firm had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. On average, research analysts expect that Exelixis will post 2.04 earnings per share for the current year.

Institutional Investors Weigh In On Exelixis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Belpointe Asset Management LLC purchased a new stake in Exelixis in the 1st quarter valued at approximately $572,000. GAMMA Investing LLC lifted its holdings in Exelixis by 32.2% in the 1st quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 1,328 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Exelixis by 10.6% in the 1st quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company’s stock valued at $272,000 after purchasing an additional 707 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Exelixis by 23.9% during the first quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company’s stock valued at $9,159,000 after buying an additional 47,845 shares during the period. Finally, Fortis Capital Advisors LLC purchased a new position in shares of Exelixis during the first quarter valued at approximately $572,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.