Exelixis (NASDAQ:EXEL) Upgraded at Leerink Partners

Leerink Partners upgraded shares of Exelixis (NASDAQ:EXEL) from a market perform rating to an outperform rating in a research report report published on Tuesday morning, MarketBeat.com reports. The firm currently has $48.00 price objective on the biotechnology company’s stock.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada cut their price objective on Exelixis from $50.00 to $45.00 and set a “sector perform” rating for the company in a report on Tuesday, July 29th. UBS Group set a $38.00 price objective on Exelixis and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Jefferies Financial Group set a $50.00 price objective on Exelixis and gave the stock a “buy” rating in a report on Tuesday, June 24th. William Blair reiterated an “outperform” rating on shares of Exelixis in a report on Tuesday, July 29th. Finally, The Goldman Sachs Group initiated coverage on Exelixis in a report on Wednesday, September 17th. They issued a “buy” rating and a $47.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.53.

Exelixis Stock Up 5.5%

Shares of NASDAQ EXEL opened at $38.05 on Tuesday. The firm has a market capitalization of $10.24 billion, a P/E ratio of 18.29, a P/E/G ratio of 0.72 and a beta of 0.38. The stock’s 50-day simple moving average is $38.67 and its two-hundred day simple moving average is $40.01. Exelixis has a twelve month low of $27.86 and a twelve month high of $49.62.

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

Institutional Investors Weigh In On Exelixis

Institutional investors have recently bought and sold shares of the stock. Cypress Capital LLC bought a new position in Exelixis during the 3rd quarter valued at approximately $737,000. Benjamin Edwards Inc. raised its position in Exelixis by 59.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,237 shares of the biotechnology company’s stock valued at $381,000 after purchasing an additional 3,460 shares during the last quarter. Lecap Asset Management Ltd. raised its position in Exelixis by 30.0% during the 3rd quarter. Lecap Asset Management Ltd. now owns 12,218 shares of the biotechnology company’s stock valued at $505,000 after purchasing an additional 2,821 shares during the last quarter. HB Wealth Management LLC raised its position in Exelixis by 26.5% during the 3rd quarter. HB Wealth Management LLC now owns 24,630 shares of the biotechnology company’s stock valued at $1,017,000 after purchasing an additional 5,160 shares during the last quarter. Finally, Spire Wealth Management raised its position in Exelixis by 27.7% during the 3rd quarter. Spire Wealth Management now owns 9,227 shares of the biotechnology company’s stock valued at $381,000 after purchasing an additional 2,004 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other 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.