Exelixis (NASDAQ:EXEL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Exelixis (NASDAQ:EXEL) from a hold rating to a buy rating in a research report released on Friday.

Other equities research analysts have also issued research reports about the stock. Benchmark reissued a “neutral” rating on shares of Exelixis in a report on Monday, June 23rd. UBS Group set a $38.00 target price on shares of Exelixis and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Jefferies Financial Group set a $50.00 price target on shares of Exelixis and gave the stock a “buy” rating in a research report on Tuesday, June 24th. Zacks Research cut shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price objective on shares of Exelixis in a report on Tuesday, July 29th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and an average price target of $44.42.

Exelixis Stock Down 3.0%

Shares of EXEL opened at $40.09 on Friday. The stock’s 50-day moving average price is $38.57 and its 200 day moving average price is $39.89. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 0.83 and a beta of 0.38. Exelixis has a 12-month low of $25.17 and a 12-month high of $49.62.

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

Institutional Investors Weigh In On Exelixis

Hedge funds have recently bought and sold shares of the company. Truist Financial Corp raised 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 worth $983,000 after purchasing an additional 250 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Exelixis by 0.3% in 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 purchasing an additional 274 shares in the last quarter. 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 worth $234,000 after buying an additional 285 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Exelixis by 6.1% during the first quarter. Farther Finance Advisors LLC now owns 5,372 shares of the biotechnology company’s stock worth $195,000 after buying an additional 307 shares in the last quarter. Finally, Rathbones Group PLC raised its position in Exelixis by 5.3% in the 1st quarter. Rathbones Group PLC now owns 6,847 shares of the biotechnology company’s stock valued at $253,000 after buying an additional 347 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.