Wells Fargo & Company Issues Positive Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its price target hoisted by Wells Fargo & Company from $30.00 to $35.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 17.28% from the company’s current price.

Other research analysts have also issued reports about the stock. Zacks Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Morgan Stanley raised their price target on shares of Exelixis from $48.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. Bank of America lowered Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price objective for the company. in a report on Monday, January 5th. Wall Street Zen upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 14th. Finally, Wolfe Research started coverage on shares of Exelixis in a report on Tuesday, November 18th. They set a “peer perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $46.47.

Exelixis Stock Performance

Exelixis stock traded down $0.67 during mid-day trading on Wednesday, reaching $42.31. The stock had a trading volume of 609,624 shares, compared to its average volume of 2,528,341. The firm has a market capitalization of $11.34 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.74 and a beta of 0.42. Exelixis has a fifty-two week low of $32.38 and a fifty-two week high of $49.62. The stock’s 50-day simple moving average is $43.69 and its 200-day simple moving average is $40.92.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.The company had revenue of $598.66 million for the quarter, compared to analyst estimates of $609.17 million. During the same period in the prior year, the firm earned $0.55 earnings per share. Exelixis’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, research analysts forecast that Exelixis will post 2.04 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Patrick J. Haley sold 28,043 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $42.58, for a total transaction of $1,194,070.94. Following the sale, the executive vice president owned 374,029 shares of the company’s stock, valued at approximately $15,926,154.82. This represents a 6.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 72,230 shares of company stock worth $3,046,923. Insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of large investors have recently modified their holdings of the company. Farallon Capital Management LLC increased its holdings in Exelixis by 21.6% during the 3rd quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock worth $805,412,000 after acquiring an additional 3,466,000 shares during the period. Assetmark Inc. grew its position in shares of Exelixis by 1,230.8% during the 3rd quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company’s stock valued at $131,994,000 after purchasing an additional 2,955,813 shares in the last quarter. Norges Bank bought a new position in shares of Exelixis in the second quarter worth $122,099,000. Qube Research & Technologies Ltd increased its holdings in shares of Exelixis by 120.5% in the second quarter. Qube Research & Technologies Ltd now owns 3,047,222 shares of the biotechnology company’s stock worth $134,306,000 after purchasing an additional 1,665,110 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Exelixis by 42.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,262,643 shares of the biotechnology company’s stock worth $231,951,000 after buying an additional 1,580,567 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

More Exelixis News

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: EPS and profitability beat — Exelixis reported Q4 EPS above consensus and delivered higher operating profit, net income and improved margins, which supports near?term earnings power. Exelixis Q4 results press release
• Positive Sentiment: Strong cash generation and balance sheet improvement — operating cash flow rose materially and cash balances increased year?over?year, reducing leverage and supporting R&D/commercial investments. QuiverQuant financials snapshot
• Positive Sentiment: Commercial upside from CABOMETYX and pipeline timing — management highlighted the CABOMETYX franchise at ~$2.12B and reiterated a planned 2026 launch for zanzalintinib, which investors view as a multi?year growth driver if approvals and uptake meet expectations. MSN: CABOMETYX franchise and zanzalintinib
• Neutral Sentiment: Analyst sentiment remains broadly constructive — several firms have Buy/outperform ratings and some raised targets, supporting medium?term upside, though targets vary. TipRanks: analyst view
• Negative Sentiment: Revenue missed expectations — total Q4 revenue fell short of consensus, and that top?line miss appears to be the main driver of the intraday weakness as investors weigh growth sustainability. QuiverQuant: revenue miss
• Negative Sentiment: Insider selling and mixed price targets — recent insider stock sales and a wide range of analyst targets (some notably low) add near?term sentiment pressure and increase focus on upcoming commercial readouts and guidance. QuiverQuant: insider & targets
• Neutral Sentiment: Earnings call details available — the full Q4 earnings call transcript and slide deck provide management commentary on 2026 priorities; investors should review guidance/assumptions for clarity on growth expectations. Seeking Alpha: earnings call transcript

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.