Exelixis (NASDAQ:EXEL) Stock Rating Lowered by Zacks Research

Exelixis (NASDAQ:EXEL) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other analysts have also recently issued reports on EXEL. UBS Group set a $38.00 price objective on shares of Exelixis and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Jefferies Financial Group set a $50.00 price objective on shares of Exelixis and gave the company a “buy” rating in a research note on Tuesday, June 24th. Truist Financial dropped their price objective on shares of Exelixis from $56.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, July 29th. Morgan Stanley dropped their price objective on shares of Exelixis from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Tuesday, July 29th. Finally, HC Wainwright dropped their price objective on shares of Exelixis from $53.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.06.

Exelixis Stock Up 0.4%

EXEL opened at $38.51 on Tuesday. Exelixis has a twelve month low of $25.12 and a twelve month high of $49.62. The company has a 50-day moving average price of $41.38 and a 200 day moving average price of $39.38. The company has a market cap of $10.37 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 0.79 and a beta of 0.29.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results 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. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The firm had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. During the same quarter in the prior year, the firm earned $0.84 EPS. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. Exelixis has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Exelixis will post 2.04 earnings per share for the current year.

Insider Activity at Exelixis

In related news, Director Sue Gail Eckhardt sold 18,838 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $42.74, for a total transaction of $805,136.12. Following the completion of the transaction, the director owned 21,380 shares of the company’s stock, valued at approximately $913,781.20. This trade represents a 46.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack L. Wyszomierski sold 7,535 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $43.09, for a total transaction of $324,683.15. Following the transaction, the director directly owned 358,882 shares of the company’s stock, valued at $15,464,225.38. The trade was a 2.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.82% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in shares of Exelixis by 32.2% during the 1st quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company’s stock worth $201,000 after purchasing an additional 1,328 shares during the period. Park Avenue Securities LLC boosted its position in shares of Exelixis by 10.6% during the 1st quarter. Park Avenue Securities LLC now owns 7,358 shares of the biotechnology company’s stock worth $272,000 after purchasing an additional 707 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Exelixis by 23.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company’s stock worth $9,159,000 after purchasing an additional 47,845 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Exelixis during the 1st quarter worth approximately $233,000. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of Exelixis during the 1st quarter worth approximately $457,000. 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.