Exelixis (NASDAQ:EXEL) Price Target Raised to $60.00

Exelixis (NASDAQ:EXEL) had its price objective hoisted by investment analysts at Morgan Stanley from $53.00 to $60.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the biotechnology company’s stock. Morgan Stanley‘s price objective would suggest a potential downside of 15.32% from the stock’s current price.

Several other research analysts also recently commented on the stock. Citizens Jmp lifted their target price on shares of Exelixis from $55.00 to $65.00 and gave the stock a “market outperform” rating in a report on Monday, October 19th. Weiss Ratings upgraded shares of Exelixis from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Truist Financial lifted their price target on shares of Exelixis from $54.00 to $60.00 and gave the company a “hold” rating in a research note on Friday. HC Wainwright reissued a “buy” rating and issued a $56.00 price objective on shares of Exelixis in a research report on Thursday, July 2nd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Exelixis presently has an average rating of “Hold” and an average price target of $53.71.

Exelixis Stock Performance

Shares of EXEL stock traded up $4.66 during mid-day trading on Friday, hitting $70.86. 2,125,418 shares of the stock were exchanged, compared to its average volume of 2,574,281. Exelixis has a 12-month low of $36.00 and a 12-month high of $72.10. The stock’s fifty day simple moving average is $59.07 and its two-hundred day simple moving average is $50.79. The stock has a market capitalization of $17.56 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 1.86 and a beta of 0.47.

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

Insiders Place Their Bets

In other news, Director Mary Beckerle sold 9,812 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Exelixis

Several hedge funds have recently added to or reduced their stakes in EXEL. Cassaday & Co Wealth Management LLC bought a new stake in shares of Exelixis in the 1st quarter valued at about $27,000. Western Wealth Management LLC purchased a new position in Exelixis in the 1st quarter worth approximately $29,000. Mather Group LLC. increased its stake in Exelixis by 124.6% in the 3rd quarter. Mather Group LLC. now owns 757 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 420 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Exelixis during the second quarter valued at approximately $46,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Exelixis in the second quarter worth approximately $57,000. 85.27% of the stock is owned by institutional investors.

Key Exelixis News

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Q3 earnings and revenue beat expectations. Exelixis reported adjusted earnings of $0.94 per share versus the $0.89 consensus estimate, while revenue rose 10.2% year over year to $658.7 million, exceeding expectations of $646.5 million. Profitability and operating cash flow also remained strong. Exelixis third-quarter earnings report
• Positive Sentiment: CABOMETYX continues to support the business. The company’s flagship cancer treatment helped drive the quarterly beat, while management highlighted continued pipeline development and plans to advance Wave 2 pivotal studies. Exelixis Q3 2026 earnings analysis
• Positive Sentiment: Zanzalintinib provides a near-term catalyst. Exelixis outlined a March 3, 2027 FDA PDUFA date, giving investors a defined timeline for a potential regulatory decision on the drug. Zanzalintinib FDA timeline
• Neutral Sentiment: Analysts raised their targets but remain cautious. Truist lifted its target to $60, RBC to $58 and Barclays to $54. All three maintained equivalent hold, sector-perform or equal-weight ratings, and each target remains below the current share price.
• Negative Sentiment: Valuation and insider activity may temper enthusiasm. The stock’s elevated valuation has prompted cautious analyst ratings, while reported insider transactions over the past six months consisted of sales and no purchases.

About Exelixis

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.