Exelixis (NASDAQ:EXEL) Price Target Raised to $76.00

Exelixis (NASDAQ:EXEL) had its target price lifted by TD Cowen from $55.00 to $76.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Truist Financial raised their price target on shares of Exelixis from $54.00 to $60.00 and gave the stock a “hold” rating in a report on Friday. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a report on Friday, September 11th. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 24th. Barclays boosted their target price on shares of Exelixis from $49.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, HC Wainwright restated a “buy” rating and set a $56.00 target price on shares of Exelixis in a report on Thursday, July 2nd. One 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’s stock. Based on data from MarketBeat, Exelixis currently has a consensus rating of “Hold” and a consensus target price of $55.21.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $69.39 on Friday. The stock has a market cap of $16.93 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.95 and a beta of 0.45. Exelixis has a 12 month low of $36.00 and a 12 month high of $72.10. The stock’s 50 day moving average price is $59.39 and its 200 day moving average price is $50.92.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Thursday, October 29th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. The company had revenue of $658.70 million during the quarter, compared to analysts’ expectations of $646.51 million. Exelixis had a net margin of 35.45% and a return on equity of 45.54%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share. On average, sell-side analysts expect that Exelixis will post 3.19 EPS for the current year.

Insider Transactions at Exelixis

In other news, Director Mary Beckerle sold 9,812 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 16,079 shares in the company, valued at $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several large investors have recently bought and sold shares of EXEL. Chicago Partners Investment Group LLC increased its position in shares of Exelixis by 3.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 19,376 shares of the biotechnology company’s stock valued at $1,250,000 after purchasing an additional 624 shares during the last quarter. Provenance Wealth Advisors LLC acquired a new position in Exelixis during the 3rd quarter valued at approximately $60,000. Tucker Asset Management LLC purchased a new position in Exelixis during the third quarter worth approximately $557,000. Signature Equity Partners LLC boosted its position in shares of Exelixis by 194.0% during the third quarter. Signature Equity Partners LLC now owns 4,134 shares of the biotechnology company’s stock worth $241,000 after buying an additional 2,728 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Exelixis in the 3rd quarter valued at $1,402,000. 85.27% of the stock is currently owned by institutional investors.

Exelixis News Summary

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Q3 earnings and revenue beat expectations: Exelixis reported adjusted EPS of $0.94 versus the $0.89 consensus estimate and revenue of $658.7 million versus expectations of approximately $646.5 million. Revenue increased 10.2% year over year. EXEL Q3 Earnings Beat Estimates on Strong Cabometyx Sales
• Positive Sentiment: CABOMETYX remained the key growth driver: U.S. net product revenue reached roughly $605 million, with franchise revenue growth of about 11% year over year, supporting confidence in Exelixis’ core commercial business.
• Positive Sentiment: Capital returns and financial strength supported sentiment: The company repurchased approximately $250 million of stock during the quarter and ended the period with about $1.4 billion in cash and marketable securities.
• Positive Sentiment: Pipeline catalyst is approaching: Exelixis outlined a March 3, 2027 FDA decision date for zanzalintinib, while continuing preparations for additional pivotal studies. Exelixis outlines March 3, 2027 PDUFA for zanza
• Positive Sentiment: TD Cowen raised its price target to $76 from $55 and assigned a Buy rating, adding to the bullish reaction following the earnings release. TD Cowen Exelixis ratings
• Neutral Sentiment: Analyst views remain mixed: Morgan Stanley raised its target to $60 but maintained Equalweight, while Truist, RBC, Barclays and other firms also lifted targets that remain below the current trading level.
• Negative Sentiment: Insider trading presents a cautionary signal: Six reported insider open-market transactions over the past six months were sales, with no purchases. This may temper enthusiasm despite the favorable quarterly results.

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.