Exelixis (NASDAQ:EXEL) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Exelixis (NASDAQ:EXEL) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $47.00 price objective on the biotechnology company’s stock.

A number of other research firms also recently weighed in on EXEL. Zacks Research downgraded shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Guggenheim reaffirmed a “buy” rating and set a $45.00 price objective on shares of Exelixis in a research report on Tuesday, July 29th. Stephens raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $29.00 to $60.00 in a research report on Tuesday, June 24th. Wall Street Zen downgraded shares of Exelixis from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Truist Financial reduced their price objective on shares of Exelixis from $56.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.42.

Exelixis Stock Performance

NASDAQ:EXEL opened at $40.44 on Wednesday. The company has a market capitalization of $10.89 billion, a PE ratio of 19.44, a P/E/G ratio of 0.81 and a beta of 0.32. The company has a 50 day simple moving average of $39.71 and a two-hundred day simple moving average of $39.66. Exelixis has a fifty-two week low of $25.17 and a fifty-two week high of $49.62.

Exelixis (NASDAQ:EXEL) last released its earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. The business had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. Research analysts predict that Exelixis will post 2.04 EPS for the current year.

Hedge Funds Weigh In On Exelixis

A number of large investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. lifted its stake in Exelixis by 2.2% during 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 acquiring an additional 164,134 shares in the last quarter. AQR Capital Management LLC lifted its stake in Exelixis by 10.3% during the 2nd quarter. AQR Capital Management LLC now owns 7,606,079 shares of the biotechnology company’s stock valued at $335,238,000 after acquiring an additional 712,190 shares in the last quarter. Geode Capital Management LLC lifted its stake in Exelixis by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 7,445,469 shares of the biotechnology company’s stock valued at $328,196,000 after acquiring an additional 28,289 shares in the last quarter. Invesco Ltd. lifted its stake in Exelixis by 40.2% during the 1st quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company’s stock valued at $205,725,000 after acquiring an additional 1,596,948 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Exelixis by 42.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock valued at $231,951,000 after acquiring an additional 1,580,567 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

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.