Truist Financial Forecasts Strong Price Appreciation for Exelixis (NASDAQ:EXEL) Stock

Exelixis (NASDAQ:EXEL) had its price target increased by equities researchers at Truist Financial from $54.00 to $60.00 in a report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the biotechnology company’s stock. Truist Financial‘s price objective would indicate a potential downside of 16.23% from the company’s previous close.

A number of other brokerages have also weighed in on EXEL. UBS Group set a $55.00 price objective on Exelixis in a report on Monday, August 3rd. Leerink Partners lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 price objective on the stock. in a research note on Thursday, August 6th. Wells Fargo & Company boosted their target price on shares of Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, July 13th. Barclays increased their price target on Exelixis from $49.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Exelixis has a consensus rating of “Hold” and an average price target of $53.21.

Exelixis Trading Up 8.2%

Shares of EXEL stock traded up $5.43 during trading hours on Friday, reaching $71.63. 1,367,105 shares of the company’s stock were exchanged, compared to its average volume of 2,570,686. Exelixis has a 1 year low of $36.00 and a 1 year high of $71.87. The stock has a market cap of $17.75 billion, a PE ratio of 22.59, a PEG ratio of 1.86 and a beta of 0.47. The stock’s fifty day moving average price is $59.07 and its two-hundred day moving average price is $50.79.

Exelixis (NASDAQ:EXEL) last released its earnings results on Thursday, October 29th. The biotechnology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.05. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The company had revenue of $658.70 million for the quarter, compared to the consensus estimate of $646.51 million. During the same quarter in the previous year, the firm earned $0.78 EPS. Exelixis’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts expect that Exelixis will post 3.19 EPS for the current fiscal year.

Insider Activity

In related news, Director Mary Beckerle sold 9,812 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the sale, the director owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. The trade was a 37.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EXEL. Tucker Asset Management LLC purchased a new position in shares of Exelixis in the third quarter valued at approximately $557,000. Signature Equity Partners LLC raised its holdings in shares of Exelixis by 194.0% during the 3rd quarter. Signature Equity Partners LLC now owns 4,134 shares of the biotechnology company’s stock worth $241,000 after acquiring an additional 2,728 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Exelixis in the third quarter valued at about $1,402,000. Profund Advisors LLC raised its position in shares of Exelixis by 36.0% during the 3rd quarter. Profund Advisors LLC now owns 42,521 shares of the biotechnology company’s stock valued at $2,484,000 after buying an additional 11,267 shares during the period. Finally, Vise Technologies Inc. grew its position in Exelixis by 73.5% in the third quarter. Vise Technologies Inc. now owns 27,248 shares of the biotechnology company’s stock worth $1,592,000 after acquiring an additional 11,540 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Trending Headlines about Exelixis

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Q3 earnings and revenue exceeded expectations. Exelixis reported non-GAAP earnings of $0.94 per share, above the $0.89 consensus estimate, while revenue reached $658.7 million versus expectations of approximately $646.5 million. Revenue grew 10.2% year over year, with CABOMETYX continuing to drive performance. Exelixis Q3 Earnings Report
• Positive Sentiment: Pipeline progress provides a potential catalyst. Exelixis said the FDA has assigned a March 3, 2027 PDUFA date for zanzalintinib, giving investors a defined timeline for a regulatory decision. The company is also advancing Wave 2 pivotal development plans, which could expand its future growth opportunities. Zanzalintinib PDUFA and Wave 2 Plans
• Positive Sentiment: Profitability and cash generation remained strong. Third-quarter net income increased year over year, and operating cash flow totaled about $280 million, reinforcing Exelixis’ ability to fund its commercial operations and pipeline.
• Neutral Sentiment: Institutional positioning was mixed. Recent filings showed significant purchases by some quantitative and institutional investors, while other large managers reduced their holdings. This signals differing views on the stock’s valuation and outlook.
• Negative Sentiment: Barclays remains cautious on valuation. The firm raised its price target from $49 to $54 but maintained an “equal weight” rating. The new target remains materially below the recent trading level, suggesting limited near-term upside in Barclays’ view.
• Negative Sentiment: Reported insider activity has been entirely selling. Data cited in recent coverage showed six insider sales and no purchases during the past six months. While these transactions may be routine, they can weigh on investor sentiment when the stock is near a 52-week high.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.