Exelixis (NASDAQ:EXEL) Raised to Strong-Buy at Wall Street Zen

Exelixis (NASDAQ:EXEL) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

A number of other analysts have also recently weighed in on the stock. Oppenheimer reiterated a “market perform” rating and set a $36.00 price target on shares of Exelixis in a research note on Wednesday. HC Wainwright increased their target price on shares of Exelixis from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial lowered their price target on Exelixis from $56.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, July 29th. Morgan Stanley upped their price objective on Exelixis from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group began coverage on Exelixis in a research report on Wednesday, September 17th. They set a “buy” rating and a $47.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Exelixis currently has an average rating of “Moderate Buy” and an average target price of $45.45.

Exelixis Stock Up 0.0%

NASDAQ:EXEL opened at $40.81 on Friday. The company has a market capitalization of $10.99 billion, a PE ratio of 19.62, a P/E/G ratio of 0.79 and a beta of 0.32. Exelixis has a 52-week low of $31.90 and a 52-week high of $49.62. The stock’s 50 day moving average price is $38.97 and its 200 day moving average price is $40.35.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.10. The business had revenue of $597.76 million during the quarter, compared to the consensus estimate of $590.04 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 earnings per share. Exelixis has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Exelixis will post 2.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Exelixis

A number of large investors have recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Exelixis by 2.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 7,795,074 shares of the biotechnology company’s stock valued at $287,794,000 after buying an additional 164,134 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Exelixis by 10.3% in the second 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 during the period. Geode Capital Management LLC lifted its holdings in Exelixis by 0.4% in the second 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 during the period. Invesco Ltd. boosted its position in shares of Exelixis by 40.2% during the 1st quarter. Invesco Ltd. now owns 5,572,189 shares of the biotechnology company’s stock worth $205,725,000 after purchasing an additional 1,596,948 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Exelixis by 42.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock worth $231,951,000 after purchasing an additional 1,580,567 shares during the period. 85.27% of the stock is owned by hedge funds and other 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.