Exelixis (NASDAQ:EXEL) Price Target Raised to $45.00

Exelixis (NASDAQ:EXEL) had its target price boosted by Morgan Stanley from $44.00 to $45.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Several other analysts also recently weighed in on EXEL. Leerink Partners upgraded Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research note on Tuesday, October 21st. Stifel Nicolaus set a $43.00 price target on shares of Exelixis in a research report on Wednesday. The Goldman Sachs Group assumed coverage on shares of Exelixis in a report on Wednesday, September 17th. They issued a “buy” rating and a $47.00 price target on the stock. Citigroup reiterated a “market outperform” rating on shares of Exelixis in a research note on Tuesday, October 21st. Finally, Barclays raised their price objective on shares of Exelixis from $40.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eleven have given 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 Stock Up 0.0%

NASDAQ EXEL opened at $40.81 on Wednesday. Exelixis has a fifty-two week low of $31.90 and a fifty-two week high of $49.62. The business has a 50 day moving average price of $38.97 and a two-hundred day moving average price of $40.35. The stock has a market cap of $10.99 billion, a PE ratio of 19.62, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. The business had revenue of $597.76 million for the quarter, compared to analysts’ expectations of $590.04 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $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.

Institutional Trading of Exelixis

Hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp boosted its position in Exelixis by 1.1% during the 2nd quarter. Truist Financial Corp now owns 22,292 shares of the biotechnology company’s stock worth $983,000 after acquiring an additional 250 shares during the period. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Exelixis by 0.3% during 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 lifted its holdings in Exelixis by 4.7% in the first quarter. Frank Rimerman Advisors LLC now owns 6,342 shares of the biotechnology company’s stock worth $234,000 after purchasing an additional 285 shares during the period. Richardson Financial Services Inc. grew its position in Exelixis by 95.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 292 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its position in Exelixis by 6.4% in the 3rd quarter. Evergreen Capital Management LLC now owns 5,450 shares of the biotechnology company’s stock valued at $225,000 after buying an additional 329 shares in the last quarter. 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.