Exelixis (NASDAQ:EXEL) Research Coverage Started at Barclays

Barclays assumed coverage on shares of Exelixis (NASDAQ:EXEL) in a research note published on Wednesday morning, MarketBeat reports. The brokerage issued an equal weight rating and a $40.00 price target on the biotechnology company’s stock.

Other equities analysts have also recently issued research reports about the company. JMP Securities reissued a “market outperform” rating and set a $50.00 price objective on shares of Exelixis in a research report on Tuesday, July 29th. Truist Financial lowered their price objective on Exelixis from $56.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Benchmark restated a “neutral” rating on shares of Exelixis in a research report on Monday, June 23rd. Bank of America increased their price target on Exelixis from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, June 5th. Finally, Zacks Research lowered Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Exelixis has a consensus rating of “Moderate Buy” and an average price target of $44.42.

Exelixis Stock Down 0.9%

Shares of Exelixis stock opened at $40.10 on Wednesday. Exelixis has a 12-month low of $25.17 and a 12-month high of $49.62. The firm has a market capitalization of $10.79 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 0.83 and a beta of 0.32. The stock’s fifty day moving average is $39.52 and its 200-day moving average is $39.68.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. The business had revenue of $568.26 million for the quarter, compared to the consensus estimate of $574.36 million. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.Exelixis’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. Exelixis has set its FY 2025 guidance at EPS. Analysts expect that Exelixis will post 2.04 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EXEL. Quantinno Capital Management LP acquired a new position in shares of Exelixis during the fourth quarter worth $559,000. State of Wyoming increased its holdings in shares of Exelixis by 357.4% during the fourth quarter. State of Wyoming now owns 12,360 shares of the biotechnology company’s stock worth $412,000 after buying an additional 9,658 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Exelixis by 187.8% during the fourth quarter. Tidal Investments LLC now owns 104,665 shares of the biotechnology company’s stock worth $3,485,000 after buying an additional 68,299 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of Exelixis by 56.4% during the fourth quarter. Two Sigma Investments LP now owns 1,328,553 shares of the biotechnology company’s stock worth $44,241,000 after buying an additional 478,889 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of Exelixis during the fourth quarter worth $247,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

About Exelixis

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.