Exelixis (NASDAQ:EXEL) Stock Price Down 9.4% After Analyst Downgrade

Exelixis, Inc. (NASDAQ:EXEL)’s stock price dropped 9.4% during mid-day trading on Monday after Royal Bank Of Canada lowered their price target on the stock from $46.00 to $43.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Exelixis traded as low as $40.69 and last traded at $39.91. Approximately 1,453,986 shares traded hands during trading, a decline of 45% from the average daily volume of 2,634,605 shares. The stock had previously closed at $44.06.

Several other equities analysts have also recently issued reports on the company. Truist Financial set a $51.00 target price on Exelixis in a research note on Wednesday, January 14th. Zacks Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Bank of America lowered shares of Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price objective for the company. in a report on Monday, January 5th. Wells Fargo & Company lifted their target price on shares of Exelixis from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 11th. Finally, Oppenheimer reiterated a “market perform” rating and set a $36.00 price target on shares of Exelixis in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Exelixis presently has a consensus rating of “Hold” and a consensus target price of $46.94.

Insider Activity at Exelixis

In other Exelixis news, EVP Dana Aftab sold 47,918 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the completion of the transaction, the executive vice president owned 616,106 shares of the company’s stock, valued at approximately $27,416,717. This trade represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack L. Wyszomierski sold 99,574 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total value of $4,382,251.74. Following the completion of the sale, the director directly owned 279,942 shares in the company, valued at approximately $12,320,247.42. This represents a 26.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 362,849 shares of company stock worth $15,917,463 over the last 90 days. 2.82% of the stock is currently owned by insiders.

Trending Headlines about Exelixis

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Zacks highlights EXEL as a long‑term value pick based on style scores and valuation, which supports buy‑case investors focused on earnings power and dividend/valuation metrics. Why Exelixis (EXEL) is a Top Value Stock for the Long-Term
• Neutral Sentiment: Roundup of 11 analyst projections provides mixed views — some upside cases remain but consensus is varied, keeping near‑term price action uncertain. Forecasting The Future: 11 Analyst Projections For Exelixis
• Neutral Sentiment: Multiple firms (Stifel, Morgan Stanley) have maintained Hold/Neutral ratings; analysts cite cabozantinib franchise as support but note competition and visibility risks for future growth. Hold Rating on Exelixis Amid Emerging Belzutifan Competition and Uncertain Cabo Revenue Visibility
• Neutral Sentiment: Reported short‑interest data is anomalous/zero in the feed and shows no clear short squeeze pressure; treat this item as noise until clarified by exchanges.
• Negative Sentiment: Investing.com reports a Merck trial showing better results versus Exelixis’ approach in the same indication — increasing competitive risk and pressuring EXEL’s oncology revenue outlook. Exelixis stock falls after rival Merck trial shows better results
• Negative Sentiment: Royal Bank of Canada cut its price target from $46 to $43 and set a sector‑perform rating, removing upside momentum from a previously higher target. Benzinga
• Negative Sentiment: Wall Street Zen lowered its stock rating on EXEL, and an Exelixis EVP sold roughly $2.13M of shares — insider selling can increase near‑term selling pressure and signal management monetization. Exelixis (NASDAQ:EXEL) Stock Rating Lowered by Wall Street Zen Insider Selling: Exelixis EVP Sells $2,132,351.00 in Stock

Institutional Investors Weigh In On Exelixis

Several hedge funds have recently added to or reduced their stakes in EXEL. Richardson Financial Services Inc. increased its holdings in shares of Exelixis by 95.1% during the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 292 shares in the last quarter. Anchor Investment Management LLC grew its position in Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Motiv8 Investments LLC bought a new stake in Exelixis during the 4th quarter valued at about $26,000. Root Financial Partners LLC purchased a new position in Exelixis in the third quarter worth about $28,000. Finally, Acumen Wealth Advisors LLC bought a new position in shares of Exelixis in the fourth quarter worth approximately $29,000. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Down 6.9%

The stock has a market cap of $10.66 billion, a PE ratio of 14.81, a PEG ratio of 0.99 and a beta of 0.42. The stock’s fifty day moving average price is $43.99 and its 200 day moving average price is $41.50.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.20. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The business had revenue of $598.66 million for the quarter, compared to analysts’ expectations of $609.17 million. During the same period in the prior year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts expect that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.