Exelixis (NASDAQ:EXEL) Rating Increased to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of Exelixis (NASDAQ:EXEL) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Exelixis in a research note on Wednesday, October 8th. UBS Group set a $38.00 price target on shares of Exelixis and gave the company a “neutral” rating in a report on Wednesday, July 30th. Zacks Research lowered shares of Exelixis from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Truist Financial lowered their price target on shares of Exelixis from $56.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. Finally, Leerink Partners raised shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.53.

Exelixis Trading Up 4.6%

NASDAQ:EXEL opened at $36.13 on Tuesday. Exelixis has a 1 year low of $27.86 and a 1 year high of $49.62. The firm has a 50 day moving average of $38.73 and a 200-day moving average of $40.02. The stock has a market capitalization of $9.73 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 0.69 and a beta of 0.38.

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

Institutional Trading of Exelixis

Institutional investors have recently bought and sold shares of the business. Hemington Wealth Management grew its holdings in Exelixis by 211.3% during the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 522 shares during the period. Byrne Asset Management LLC grew its holdings in shares of Exelixis by 129.0% in the 2nd quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 400 shares during the period. Luminist Capital LLC grew its holdings in shares of Exelixis by 2,740.0% in the 2nd quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 685 shares during the period. Family Legacy Financial Solutions LLC acquired a new position in shares of Exelixis in the 2nd quarter valued at $33,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in shares of Exelixis in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

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.