Exelixis (NASDAQ:EXEL) Coverage Initiated by Analysts at Wolfe Research

Equities research analysts at Wolfe Research initiated coverage on shares of Exelixis (NASDAQ:EXEL) in a research report issued to clients and investors on Tuesday. The firm set a “peer perform” rating on the biotechnology company’s stock.

A number of other research analysts have also recently issued reports on EXEL. Wells Fargo & Company decreased their price target on shares of Exelixis from $36.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Stifel Nicolaus set a $43.00 target price on Exelixis in a research report on Wednesday, November 5th. Cowen reaffirmed a “buy” rating on shares of Exelixis in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $45.00 price objective on shares of Exelixis in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.45.

Exelixis Price Performance

NASDAQ:EXEL opened at $42.42 on Tuesday. The company has a 50-day moving average of $39.57 and a 200 day moving average of $40.58. Exelixis has a 1-year low of $31.90 and a 1-year high of $49.62. The firm has a market cap of $11.37 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.79 and a beta of 0.32.

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

Insider Activity

In other news, Director Mary C. Beckerle sold 24,622 shares of Exelixis stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $41.93, for a total value of $1,032,400.46. Following the sale, the director directly owned 21,380 shares of the company’s stock, valued at $896,463.40. The trade was a 53.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stelios Papadopoulos sold 100,000 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $43.55, for a total value of $4,355,000.00. Following the completion of the transaction, the director directly owned 1,189,228 shares of the company’s stock, valued at approximately $51,790,879.40. This represents a 7.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 173,005 shares of company stock worth $7,443,678 over the last quarter. 2.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Farallon Capital Management LLC boosted its holdings in Exelixis by 21.6% during the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock valued at $805,412,000 after acquiring an additional 3,466,000 shares during the period. AQR Capital Management LLC boosted its stake in shares of Exelixis by 20.7% in the 3rd quarter. AQR Capital Management LLC now owns 9,181,359 shares of the biotechnology company’s stock valued at $379,190,000 after buying an additional 1,575,280 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Exelixis by 2.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,795,074 shares of the biotechnology company’s stock valued at $287,794,000 after buying an additional 164,134 shares during the period. Geode Capital Management LLC grew its position in shares of Exelixis by 0.4% during the second quarter. Geode Capital Management LLC now owns 7,445,469 shares of the biotechnology company’s stock worth $328,196,000 after buying an additional 28,289 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Exelixis by 7.1% during the third quarter. Invesco Ltd. now owns 5,960,525 shares of the biotechnology company’s stock worth $246,170,000 after buying an additional 394,897 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

About Exelixis

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.