Exelixis (NASDAQ:EXEL) Upgraded at Barclays

Barclays upgraded shares of Exelixis (NASDAQ:EXEL) to a hold rating in a research note released on Tuesday,Zacks.com reports.

A number of other research firms have also issued reports on EXEL. Jefferies Financial Group set a $50.00 price target on Exelixis and gave the company a “buy” rating in a research report on Tuesday, June 24th. UBS Group set a $38.00 target price on Exelixis and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Truist Financial cut their target price on Exelixis from $56.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. Royal Bank Of Canada cut their target price on Exelixis from $50.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 29th. Finally, HC Wainwright cut their target price on Exelixis from $53.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.42.

Exelixis Price Performance

EXEL stock opened at $40.45 on Tuesday. The firm has a market capitalization of $10.89 billion, a P/E ratio of 19.45, a P/E/G ratio of 0.83 and a beta of 0.32. The business’s 50-day moving average is $39.62 and its two-hundred day moving average is $39.67. Exelixis has a 1 year low of $25.17 and a 1 year high of $49.62.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EXEL. Quantinno Capital Management LP acquired a new position in Exelixis during the fourth quarter worth approximately $559,000. Tidal Investments LLC increased its position in Exelixis by 187.8% during the fourth quarter. Tidal Investments LLC now owns 104,665 shares of the biotechnology company’s stock worth $3,485,000 after buying an additional 68,299 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in Exelixis during the fourth quarter worth approximately $247,000. Voloridge Investment Management LLC acquired a new position in shares of Exelixis in the fourth quarter valued at approximately $30,321,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Exelixis by 4.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 844,345 shares of the biotechnology company’s stock valued at $28,117,000 after purchasing an additional 33,804 shares during the period. Institutional investors and hedge funds 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.