Exelixis (NASDAQ:EXEL) Stock Price Down 9.4% After Analyst Downgrade

Exelixis, Inc. (NASDAQ:EXEL)’s stock price was down 9.4% during trading on Monday after Royal Bank Of Canada lowered their price target on the stock from $46.00 to $43.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Exelixis traded as low as $40.69 and last traded at $39.91. Approximately 1,453,986 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 2,634,605 shares. The stock had previously closed at $44.06.

Other research analysts have also issued reports about the company. HC Wainwright lifted their price objective on Exelixis from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Wolfe Research began coverage on Exelixis in a report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Barclays increased their price target on Exelixis from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. Stifel Nicolaus raised their price objective on shares of Exelixis from $43.00 to $44.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Finally, Oppenheimer reissued a “market perform” rating and set a $36.00 target price on shares of Exelixis in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.94.

Insider Activity

In other Exelixis news, CFO Christopher J. Senner sold 34,278 shares of Exelixis stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $43.00, for a total transaction of $1,473,954.00. Following the completion of the transaction, the chief financial officer owned 1,042,579 shares in the company, valued at approximately $44,830,897. The trade was a 3.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dana Aftab sold 47,918 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $44.50, for a total value of $2,132,351.00. Following the sale, the executive vice president directly owned 616,106 shares of the company’s stock, valued at $27,416,717. This represents a 7.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 362,849 shares of company stock valued at $15,917,463. 2.85% of the stock is currently owned by insiders.

Key Exelixis News

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Zacks published a positive takecalling EXEL a “Top Value Stock for the Long-Term,” which supports a longer-term, value-oriented bull case for investors focused on valuation and cash flow. Why Exelixis (EXEL) is a Top Value Stock for the Long-Term
• Neutral Sentiment: Morgan Stanley reiterated a Hold rating and kept its $49 price target, noting that while Welireg competition tempers RCC upside, the embedded cabozantinib franchise still provides support — a mixed view that keeps sentiment neutral. Exelixis: Welireg Competition Tempers RCC Upside but Embedded Cabozantinib Franchise Supports Hold Rating
• Neutral Sentiment: Benzinga and other roundups compiling multiple analyst projections provide a range of views (some bullish on long-term value, others cautious), meaning consensus remains mixed and investors should focus on which revenue scenarios play out. Forecasting The Future: 11 Analyst Projections For Exelixis
• Neutral Sentiment: Reported short-interest items show zero shares or inconsistent data (likely a reporting/data error), so there’s no clear short-squeeze signal to factor into near-term price action. (Market-impact: negligible until cleaned up.)
• Negative Sentiment: Royal Bank of Canada cut its price target to $43 and set a “sector perform” rating, signaling reduced upside expectations and likely contributing to downward pressure on the stock. Exelixis (NASDAQ:EXEL) Price Target Lowered to $43.00 at Royal Bank Of Canada
• Negative Sentiment: An investing.com item notes EXEL stock fell after a Merck trial produced stronger results versus competing approaches — competitive clinical data can reduce Exelixis’ market share and near-term growth prospects in relevant indications. Exelixis stock falls after rival Merck trial shows better results
• Negative Sentiment: Stifel reiterated a Hold rating, explicitly flagging emerging belzutifan competition and uncertain cabozantinib revenue visibility — commentary that reinforces cautious analyst positioning. Hold Rating on Exelixis Amid Emerging Belzutifan Competition and Uncertain Cabo Revenue Visibility
• Negative Sentiment: Wall Street Zen lowered its stock rating, another data point adding to negative near-term sentiment from some retail/independent research outlets. Exelixis (NASDAQ:EXEL) Stock Rating Lowered by Wall Street Zen

Institutional Investors Weigh In On Exelixis

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wick Capital Partners LLC purchased a new position in Exelixis during the 4th quarter worth $235,000. Seven Fleet Capital Management LP bought a new stake in Exelixis in the 4th quarter worth about $3,005,000. Van Diest Capital LLC purchased a new stake in Exelixis in the 4th quarter valued at about $340,000. Invesco Ltd. lifted its position in shares of Exelixis by 1.6% during the 4th quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock worth $265,379,000 after buying an additional 94,218 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Exelixis by 107.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 143,780 shares of the biotechnology company’s stock worth $6,302,000 after buying an additional 74,360 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Performance

The stock has a market cap of $10.58 billion, a PE ratio of 14.71, a P/E/G ratio of 0.92 and a beta of 0.41. The business has a 50 day moving average price of $43.87 and a two-hundred day moving average price of $41.52.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.20. The business had revenue of $598.66 million for the quarter, compared to analysts’ expectations of $609.17 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. As a group, research analysts anticipate that Exelixis, Inc. will post 2.04 earnings per share for the current year.

Exelixis Company Profile

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.