Truist Financial Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its price target raised by Truist Financial from $54.00 to $60.00 in a report published on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the biotechnology company’s stock.

Several other equities research analysts have also issued reports on EXEL. Stifel Nicolaus boosted their price target on shares of Exelixis from $47.00 to $51.00 and gave the company a “hold” rating in a report on Thursday, August 6th. Weiss Ratings raised shares of Exelixis from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Wells Fargo & Company lifted 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. Citizens Jmp upped their target price on shares of Exelixis from $55.00 to $65.00 and gave the company a “market outperform” rating in a research note on Monday, October 19th. Finally, William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Exelixis has an average rating of “Hold” and an average price target of $55.21.

Exelixis Stock Up 4.8%

Shares of NASDAQ:EXEL opened at $69.39 on Friday. Exelixis has a twelve month low of $36.00 and a twelve month high of $72.10. The company has a market cap of $17.19 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.86 and a beta of 0.47. The business has a 50 day moving average price of $59.39 and a 200 day moving average price of $50.92.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Thursday, October 29th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.05. Exelixis had a net margin of 35.45% and a return on equity of 44.70%. The business had revenue of $658.70 million for the quarter, compared to the consensus estimate of $646.51 million. During the same quarter last year, the company posted $0.78 earnings per share. Exelixis’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Exelixis will post 3.19 EPS for the current year.

Insider Transactions at Exelixis

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of Exelixis stock in a transaction on 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 directly owned 16,079 shares of the company’s stock, valued at approximately $862,799.14. This trade represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

A number of hedge funds have recently made changes to their positions in EXEL. BlackRock Inc. bought a new stake in Exelixis during the second quarter worth about $1,581,991,000. Dimensional Fund Advisors LP boosted its holdings in shares of Exelixis by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock worth $184,391,000 after acquiring an additional 39,920 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Exelixis by 1.7% in the 1st quarter. Assetmark Inc. now owns 3,388,920 shares of the biotechnology company’s stock worth $145,351,000 after acquiring an additional 58,149 shares in the last quarter. First Trust Advisors LP grew its position in Exelixis by 62.0% during the 1st quarter. First Trust Advisors LP now owns 2,534,992 shares of the biotechnology company’s stock worth $108,726,000 after acquiring an additional 970,144 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Exelixis by 30.7% during the 2nd quarter. Bank of America Corp DE now owns 2,149,397 shares of the biotechnology company’s stock worth $116,949,000 after acquiring an additional 504,660 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

More Exelixis News

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.

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.