EXEL

Guggenheim Reiterates Exelixis (EXEL) Buy Recommendation

Fintel reports that on October 11, 2023, Guggenheim reiterated coverage of Exelixis (NASDAQ:EXEL) with a Buy recommendation.

Analyst Price Forecast Suggests 21.67% Upside

As of October 5, 2023, the average one-year price target for Exelixis is 26.16. The forecasts range from a low of 18.18 to a high of $33.60. The average price target represents an increase of 21.67% from its latest reported closing price of 21.50.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Exelixis is 1,860MM, an increase of 8.50%. The projected annual non-GAAP EPS is 1.00.

What is the Fund Sentiment?

There are 850 funds or institutions reporting positions in Exelixis. This is a decrease of 54 owner(s) or 5.97% in the last quarter. Average portfolio weight of all funds dedicated to EXEL is 0.33%, a decrease of 1.36%. Total shares owned by institutions decreased in the last three months by 4.57% to 301,570K shares. EXEL / Exelixis Inc Put/Call Ratios The put/call ratio of EXEL is 0.55, indicating a bullish outlook.

What are Other Shareholders Doing?

EXEL / Exelixis Inc Shares Held by Institutions

Farallon Capital Management holds 25,860K shares representing 8.12% ownership of the company. In it's prior filing, the firm reported owning 23,466K shares, representing an increase of 9.26%. The firm increased its portfolio allocation in EXEL by 7.14% over the last quarter.

Renaissance Technologies holds 14,648K shares representing 4.60% ownership of the company. In it's prior filing, the firm reported owning 15,279K shares, representing a decrease of 4.31%. The firm increased its portfolio allocation in EXEL by 2.50% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,101K shares representing 3.17% ownership of the company. In it's prior filing, the firm reported owning 10,070K shares, representing an increase of 0.31%. The firm decreased its portfolio allocation in EXEL by 8.88% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 9,878K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 9,998K shares, representing a decrease of 1.22%. The firm decreased its portfolio allocation in EXEL by 6.82% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 8,407K shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 8,483K shares, representing a decrease of 0.90%. The firm decreased its portfolio allocation in EXEL by 7.17% over the last quarter.

Exelixis Background Information
(This description is provided by the company.)

Founded in 1994, Exelixis, Inc. is a commercially successful, oncology-focused biotechnology company that strives to accelerate the discovery, development and commercialization of new medicines for difficult-to-treat cancers. Following early work in model system genetics, it established a broad drug discovery and development platform that has served as the foundation for its continued efforts to bring new cancer therapies to patients in need. Its discovery efforts have resulted in four commercially available products, CABOMETYX® (cabozantinib), COMETRIQ® (cabozantinib), COTELLIC® (cobimetinib) and MINNEBRO® (esaxerenone), and it has entered into partnerships with leading pharmaceutical companies to bring these important medicines to patients worldwide. Supported by revenues from its marketed products and collaborations, it is committed to prudently reinvesting in its business to maximize the potential of its pipeline. It is supplementing its existing therapeutic assets with targeted business development activities and internal drug discovery - all to deliver the next generation of Exelixis medicines and help patients recover stronger and live longer. Exelixis is a member of the Standard & Poor's (S&P) MidCap 400 index, which measures the performance of profitable mid-sized companies. In November 2020, the company was named to Fortune's 100 Fastest-Growing Companies list for the first time, ranking 17th overall and the third-highest biopharmaceutical company.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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