Royal Bank Of Canada Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its price objective increased by Royal Bank Of Canada from $51.00 to $58.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a sector perform rating on the biotechnology company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings upgraded shares of Exelixis from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. Wells Fargo & Company raised their price objective on shares of Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, July 13th. BMO Capital Markets restated a “market perform” rating and set a $60.00 price target on shares of Exelixis in a report on Friday. Stifel Nicolaus boosted their target price on shares of Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Finally, Morgan Stanley raised their price objective on shares of Exelixis from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $55.21.

Exelixis Price Performance

Shares of Exelixis stock opened at $69.39 on Friday. The business has a 50 day simple moving average of $59.39 and a two-hundred day simple moving average of $50.92. The stock has a market capitalization of $17.19 billion, a P/E ratio of 20.78, a PEG ratio of 1.86 and a beta of 0.47. Exelixis has a 12 month low of $36.00 and a 12 month high of $72.10.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Thursday, October 29th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.05. The company had revenue of $658.70 million for the quarter, compared to analysts’ expectations of $646.51 million. Exelixis had a net margin of 35.45% and a return on equity of 44.70%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. As a group, research analysts anticipate that Exelixis will post 3.19 EPS for the current fiscal year.

Insider Transactions at Exelixis

In related news, Director Mary Beckerle sold 9,812 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the sale, the director owned 16,079 shares in the company, valued at $862,799.14. This trade represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Exelixis

A number of institutional investors have recently added to or reduced their stakes in the stock. Provenance Wealth Advisors LLC acquired a new stake in shares of Exelixis during the 3rd quarter valued at approximately $60,000. Tucker Asset Management LLC purchased a new position in Exelixis in the 3rd quarter valued at approximately $557,000. Signature Equity Partners LLC increased its stake in Exelixis by 194.0% in the 3rd quarter. Signature Equity Partners LLC now owns 4,134 shares of the biotechnology company’s stock valued at $241,000 after purchasing an additional 2,728 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Exelixis in the 3rd quarter valued at approximately $1,402,000. Finally, Profund Advisors LLC raised its holdings in Exelixis by 36.0% during the third quarter. Profund Advisors LLC now owns 42,521 shares of the biotechnology company’s stock worth $2,484,000 after purchasing an additional 11,267 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Key Exelixis News

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Q3 earnings and revenue beat expectations: Exelixis reported adjusted EPS of $0.94 versus the $0.89 consensus estimate and revenue of $658.7 million versus expectations of approximately $646.5 million. Revenue increased 10.2% year over year. EXEL Q3 Earnings Beat Estimates on Strong Cabometyx Sales
• Positive Sentiment: CABOMETYX remained the key growth driver: U.S. net product revenue reached roughly $605 million, with franchise revenue growth of about 11% year over year, supporting confidence in Exelixis’ core commercial business.
• Positive Sentiment: Capital returns and financial strength supported sentiment: The company repurchased approximately $250 million of stock during the quarter and ended the period with about $1.4 billion in cash and marketable securities.
• Positive Sentiment: Pipeline catalyst is approaching: Exelixis outlined a March 3, 2027 FDA decision date for zanzalintinib, while continuing preparations for additional pivotal studies. Exelixis outlines March 3, 2027 PDUFA for zanza
• Positive Sentiment: TD Cowen raised its price target to $76 from $55 and assigned a Buy rating, adding to the bullish reaction following the earnings release. TD Cowen Exelixis ratings
• Neutral Sentiment: Analyst views remain mixed: Morgan Stanley raised its target to $60 but maintained Equalweight, while Truist, RBC, Barclays and other firms also lifted targets that remain below the current trading level.
• Negative Sentiment: Insider trading presents a cautionary signal: Six reported insider open-market transactions over the past six months were sales, with no purchases. This may temper enthusiasm despite the favorable quarterly results.

About Exelixis

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.