Exelixis (NASDAQ:EXEL) Downgraded by Wall Street Zen to Buy

Wall Street Zen cut shares of Exelixis (NASDAQ:EXEL) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

A number of other brokerages have also commented on EXEL. Wells Fargo & Company raised their price objective on Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, July 13th. HC Wainwright reiterated a “buy” rating and issued a $56.00 price objective on shares of Exelixis in a research note on Thursday, July 2nd. TD Cowen lifted their target price on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Citizens Jmp boosted their price target on shares of Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a report on Wednesday, June 24th. Finally, Truist Financial dropped their price target on shares of Exelixis from $56.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Exelixis has an average rating of “Hold” and an average price target of $49.79.

Exelixis Stock Up 3.6%

EXEL opened at $54.07 on Friday. The stock has a fifty day moving average of $54.17 and a 200-day moving average of $47.94. The firm has a market capitalization of $13.59 billion, a P/E ratio of 17.00, a PEG ratio of 1.56 and a beta of 0.44. Exelixis has a 12-month low of $33.76 and a 12-month high of $57.57.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $628.69 million for the quarter, compared to the consensus estimate of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.Exelixis’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. On average, analysts expect that Exelixis will post 3.15 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In other news, EVP Patrick J. Haley sold 32,110 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the transaction, the executive vice president owned 357,638 shares in the company, valued at approximately $17,813,948.78. This trade represents a 8.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sue Gail Eckhardt sold 9,812 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.14, for a total transaction of $491,973.68. Following the transaction, the director directly owned 16,079 shares in the company, valued at $806,201.06. The trade was a 37.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 130,824 shares of company stock worth $6,555,231 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Motiv8 Investments LLC bought a new position in shares of Exelixis in the fourth quarter valued at approximately $26,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Exelixis during the 1st quarter worth $27,000. Western Wealth Management LLC bought a new stake in shares of Exelixis during the 1st quarter worth $29,000. Acumen Wealth Advisors LLC acquired a new position in Exelixis in the 4th quarter valued at $29,000. Finally, Activest Wealth Management acquired a new position in Exelixis in the 4th quarter valued at $32,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis News Summary

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Exelixis reported second-quarter EPS of $0.91, ahead of the $0.85-$0.86 analyst consensus and up from $0.75 a year earlier. Revenue rose 10.6% year over year to approximately $628.7 million, while the company continues to benefit from its established cabozantinib business. Exelixis Q2 earnings
• Positive Sentiment: The company launched a new Phase 3 trial testing zanzalintinib in residual colorectal cancer, expanding the potential market for its pipeline and providing another long-term growth catalyst. Exelixis colorectal cancer trial
• Positive Sentiment: TD Cowen reaffirmed a Buy rating and a $55 price target, citing resilience in cabozantinib, cost discipline and upside from zanzalintinib despite near-term guidance pressure.
• Neutral Sentiment: Stifel raised its price target from $47 to $51 but retained a Hold rating. Its target remains below the recent trading level, suggesting limited near-term upside in the analyst’s view.
• Negative Sentiment: Exelixis lowered the midpoint of its 2026 revenue outlook by $50 million, primarily because the NET launch has been slower than expected. Although the EPS beat was encouraging, the revenue miss and reduced outlook are weighing on growth expectations. Exelixis 2026 guidance
• Negative Sentiment: Leerink Partners downgraded EXEL from Outperform to Market Perform and set a $52 price target, below the recent share price. Leerink Partners downgrade
• Negative Sentiment: Zacks Research maintains a Strong Sell rating and made small reductions to its FY2026-FY2028 EPS forecasts, including a FY2026 estimate of $3.12 versus the broader consensus of $3.15.

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.