Wall Street Zen Downgrades Exelixis (NASDAQ:EXEL) to Hold

by · The Cerbat Gem

Exelixis (NASDAQ:EXEL – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

EXEL has been the subject of several other research reports. Barclays boosted their price objective on Exelixis from $29.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. UBS Group set a $38.00 price objective on Exelixis and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. HC Wainwright cut their price objective on Exelixis from $53.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Guggenheim reissued a “buy” rating and set a $45.00 price objective on shares of Exelixis in a research report on Tuesday, July 29th. Finally, Royal Bank Of Canada cut their price objective on Exelixis from $50.00 to $45.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and a consensus price target of $44.06.

Check Out Our Latest Stock Analysis on EXEL

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $39.14 on Monday. Exelixis has a fifty-two week low of $25.17 and a fifty-two week high of $49.62. The business has a 50-day moving average of $39.78 and a two-hundred day moving average of $39.65. The stock has a market capitalization of $10.54 billion, a P/E ratio of 18.82, a P/E/G ratio of 0.80 and a beta of 0.32.

Exelixis (NASDAQ:EXEL – Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The business 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 firm earned $0.84 EPS. The firm’s revenue was down 10.8% compared to the same quarter last year. Exelixis has set its FY 2025 guidance at EPS. As a group, research analysts expect that Exelixis will post 2.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Exelixis

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

About Exelixis

(Get Free Report)

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.

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