Weiss Ratings Reiterates Buy (B) Rating for Exelixis (NASDAQ:EXEL)

Exelixis (NASDAQ:EXEL)‘s stock had its “buy (b)” rating restated by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other brokerages have also recently issued reports on EXEL. Barclays began coverage on Exelixis in a report on Wednesday, September 17th. They issued an “equal weight” rating and a $40.00 target price on the stock. UBS Group set a $38.00 target price on Exelixis and gave the stock a “neutral” rating in a report on Wednesday, July 30th. William Blair reiterated an “outperform” rating on shares of Exelixis in a report on Tuesday, July 29th. Benchmark reiterated a “neutral” rating on shares of Exelixis in a report on Monday, June 23rd. Finally, Truist Financial dropped their price objective on Exelixis from $56.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.42.

Exelixis Stock Performance

Exelixis stock opened at $38.64 on Wednesday. The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 0.82 and a beta of 0.38. Exelixis has a 52-week low of $25.17 and a 52-week high of $49.62. The stock’s 50 day moving average price is $38.57 and its two-hundred day moving average price is $39.90.

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, topping analysts’ consensus estimates of $0.63 by $0.12. The firm had revenue of $568.26 million for the quarter, compared to analysts’ expectations of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Exelixis will post 2.04 EPS for the current year.

Institutional Investors Weigh In On Exelixis

A number of hedge funds have recently made changes to their positions in the business. FCG Investment Co raised its stake in shares of Exelixis by 3.1% during the 3rd quarter. FCG Investment Co now owns 20,302 shares of the biotechnology company’s stock worth $838,000 after purchasing an additional 608 shares during the period. Balefire LLC bought a new stake in shares of Exelixis during the 3rd quarter worth $237,000. Assenagon Asset Management S.A. raised its stake in shares of Exelixis by 13.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 708,214 shares of the biotechnology company’s stock worth $29,249,000 after purchasing an additional 84,287 shares during the period. Corient Private Wealth LLC raised its stake in shares of Exelixis by 71.5% during the 2nd quarter. Corient Private Wealth LLC now owns 117,830 shares of the biotechnology company’s stock worth $5,193,000 after purchasing an additional 49,123 shares during the period. Finally, Texas Permanent School Fund Corp increased its holdings in Exelixis by 2.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 438,466 shares of the biotechnology company’s stock worth $19,325,000 after acquiring an additional 12,284 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

About Exelixis

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.