Exelixis’ (EXEL) Sector Perform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their sector perform rating on shares of Exelixis (NASDAQ:EXEL) in a research report released on Tuesday morning,Benzinga reports. They currently have a $45.00 target price on the biotechnology company’s stock.

Several other analysts also recently issued reports on the company. Barclays initiated coverage on Exelixis in a report on Wednesday, September 17th. They set an “equal weight” rating and a $40.00 price objective on the stock. UBS Group set a $38.00 target price on Exelixis and gave the company a “neutral” rating in a report on Wednesday, July 30th. Morgan Stanley upped their target price on Exelixis from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, September 17th. Stephens upgraded Exelixis from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $29.00 to $60.00 in a report on Tuesday, June 24th. Finally, Benchmark reiterated a “neutral” rating on shares of Exelixis in a report on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.53.

Exelixis Trading Up 5.5%

NASDAQ EXEL opened at $38.05 on Tuesday. The stock’s 50-day moving average price is $38.67 and its two-hundred day moving average price is $40.01. The company has a market cap of $10.24 billion, a PE ratio of 18.29, a PEG ratio of 0.72 and a beta of 0.38. Exelixis has a 1 year low of $27.86 and a 1 year high of $49.62.

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

Hedge Funds Weigh In On Exelixis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC acquired a new position in Exelixis during the first quarter valued at approximately $572,000. GAMMA Investing LLC grew its holdings in Exelixis by 32.2% during the first quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 1,328 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Exelixis by 23.9% during the first quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company’s stock valued at $9,159,000 after purchasing an additional 47,845 shares during the last quarter. Fortis Capital Advisors LLC acquired a new position in Exelixis during the first quarter valued at approximately $572,000. Finally, Intech Investment Management LLC grew its holdings in Exelixis by 46.4% during the first quarter. Intech Investment Management LLC now owns 392,022 shares of the biotechnology company’s stock valued at $14,473,000 after purchasing an additional 124,297 shares during the last quarter. 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.