Exelixis (NASDAQ:EXEL) Stock Price Expected to Rise, UBS Group Analyst Says

Exelixis (NASDAQ:EXEL) had its target price increased by equities research analysts at UBS Group from $35.00 to $40.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s price objective would suggest a potential downside of 1.98% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Exelixis from $36.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Barclays upped their price objective on Exelixis from $40.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday. Morgan Stanley increased their target price on Exelixis from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $45.00 target price on shares of Exelixis in a report on Tuesday, October 21st. Finally, Stifel Nicolaus set a $43.00 price target on Exelixis in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Exelixis has an average rating of “Moderate Buy” and an average target price of $45.45.

Exelixis Trading Up 0.0%

Shares of NASDAQ:EXEL opened at $40.81 on Thursday. The firm has a market cap of $10.99 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 0.79 and a beta of 0.32. The stock’s 50-day moving average price is $38.97 and its two-hundred day moving average price is $40.35. Exelixis has a 12-month low of $31.90 and a 12-month high of $49.62.

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

Institutional Trading of Exelixis

Hedge funds have recently made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Exelixis during the first quarter worth $123,310,000. Assetmark Inc. lifted its holdings in Exelixis by 1,230.8% in the 3rd quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company’s stock worth $131,994,000 after buying an additional 2,955,813 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Exelixis by 73.8% in the 1st quarter. AQR Capital Management LLC now owns 6,893,889 shares of the biotechnology company’s stock worth $250,869,000 after buying an additional 2,926,884 shares in the last quarter. Norges Bank purchased a new position in Exelixis in the 2nd quarter valued at about $122,099,000. Finally, Qube Research & Technologies Ltd grew its stake in shares of Exelixis by 120.5% during the second quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock valued at $134,306,000 after acquiring an additional 1,665,110 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.