Exelixis (NASDAQ:EXEL) Lowered to Market Perform Rating by Leerink Partners

Exelixis (NASDAQ:EXEL) was downgraded by analysts at Leerink Partners from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a $52.00 price objective on the biotechnology company’s stock. Leerink Partners’ target price indicates a potential downside of 1.10% from the company’s current price.

Several other research analysts have also recently commented on EXEL. Weiss Ratings cut Exelixis from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Citizens Jmp lifted their target price on shares of Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 24th. Zacks Research cut shares of Exelixis from a “hold” rating to a “strong sell” rating in a research note on Monday. Citigroup reiterated a “market outperform” rating on shares of Exelixis in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company boosted their target price on shares of Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, July 13th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $49.79.

Exelixis Stock Down 7.3%

NASDAQ EXEL traded down $4.12 during trading on Thursday, hitting $52.58. The company’s stock had a trading volume of 2,506,213 shares, compared to its average volume of 2,698,774. The firm has a 50 day moving average price of $54.08 and a 200 day moving average price of $47.84. The firm has a market cap of $13.22 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.44. Exelixis has a 52 week low of $33.76 and a 52 week high of $57.57.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business had revenue of $628.69 million for the quarter, compared to the consensus estimate of $636.40 million. During the same quarter last year, the company posted $0.75 earnings per share. Exelixis’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts expect that Exelixis will post 3.15 earnings per share for the current year.

Insider Transactions at Exelixis

In other news, CFO Christopher J. Senner sold 34,901 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the completion of the sale, the chief financial officer owned 952,317 shares in the company, valued at $47,615,850. The trade was a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Patrick J. Haley sold 32,110 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the sale, the executive vice president directly owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. This trade represents a 8.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 130,824 shares of company stock worth $6,555,231. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Institutional investors and hedge funds have recently made changes to their positions in the company. Motiv8 Investments LLC bought a new stake in Exelixis in the 4th quarter valued at $26,000. Cassaday & Co Wealth Management LLC acquired a new position in Exelixis in the 1st quarter valued at $27,000. Western Wealth Management LLC bought a new position in Exelixis in the 1st quarter valued at approximately $29,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Exelixis during the 4th quarter valued at $29,000. Finally, Activest Wealth Management bought a new stake in shares of Exelixis during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis News Summary

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Exelixis launched a Phase 3 trial evaluating zanzalintinib in patients with residual colorectal cancer after surgery and chemotherapy. The study expands the drug’s potential commercial opportunity beyond its existing development programs. Exelixis Targets Residual Colorectal Cancer With New Phase 3 Trial
• Positive Sentiment: TD Cowen reaffirmed a Buy rating and a $55 price target, citing resilient cabozantinib performance, cost discipline and longer-term upside from zanzalintinib. Exelixis Buy Rating Reaffirmed
• Positive Sentiment: Second-quarter adjusted EPS was $0.91, ahead of estimates near $0.85-$0.86 and up from $0.75 a year earlier. Revenue increased 10.6% year over year to $628.7 million, while net margin reached 35.1%. Exelixis Announces Second Quarter 2026 Financial Results
• Neutral Sentiment: Stifel raised its price target from $47 to $51 but retained a Hold rating, indicating limited upside based on its valuation view. Stifel Price Target Update
• Negative Sentiment: Revenue missed Wall Street expectations of approximately $636.4 million. More importantly, Exelixis lowered its 2026 revenue outlook to $2.5 billion-$2.6 billion, versus consensus near $2.6 billion, as the launch of its NET treatment progressed more slowly than expected. Exelixis Q2 Earnings and 2026 Outlook
• Negative Sentiment: Zacks Research downgraded Exelixis to Strong Sell and trimmed its FY2026 and FY2027 EPS forecasts slightly, while cutting its FY2028 estimate to $4.18 from $4.28. These revisions reinforce concerns about slower near-term growth.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.