Exelixis (NASDAQ:EXEL) Cut to Neutral at Guggenheim

Guggenheim cut shares of Exelixis (NASDAQ:EXEL) from a buy rating to a neutral rating in a report published on Monday, MarketBeat Ratings reports.

EXEL has been the topic of several other research reports. Truist Financial dropped their target price on shares of Exelixis from $56.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research report on Wednesday, October 8th. Citigroup reissued a “market outperform” rating on shares of Exelixis in a report on Tuesday, October 21st. JMP Securities restated a “market outperform” rating and issued a $50.00 price target on shares of Exelixis in a research note on Tuesday, July 29th. Finally, Leerink Partnrs raised Exelixis from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.35.

Exelixis Trading Up 6.5%

Shares of NASDAQ:EXEL opened at $40.37 on Monday. The stock 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 stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 0.79 and a beta of 0.38.

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

Institutional Investors Weigh In On Exelixis

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen LLC bought a new position in shares of Exelixis in the 1st quarter worth approximately $123,310,000. AQR Capital Management LLC increased its holdings in Exelixis by 73.8% during the first quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company’s stock valued at $250,869,000 after buying an additional 2,926,884 shares during the last quarter. Norges Bank purchased a new stake in Exelixis during the second quarter valued at approximately $122,099,000. Qube Research & Technologies Ltd raised its position in Exelixis by 120.5% in the second quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock worth $134,306,000 after acquiring an additional 1,665,110 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Exelixis by 40.2% during the 1st quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company’s stock worth $205,725,000 after acquiring an additional 1,596,948 shares during the last quarter. 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.