Market Analysts see Exelixis Inc. [EXEL] gaining to $23. Time to buy?

Exelixis Inc. [NASDAQ: EXEL] stock went on an upward path that rose over 1.89% on Thursday, amounting to a one-week price decrease of less than -2.97%. The company report on March 2, 2023 that Exelixis Provides Update on Phase 3 CONTACT-03 Trial Evaluating Cabozantinib in Combination with Atezolizumab in Patients with Previously Treated Advanced Kidney Cancer.

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Exelixis, Inc. (Nasdaq: EXEL) today announced that the phase 3 CONTACT-03 study did not meet its primary endpoint of progression-free survival (PFS). CONTACT-03 evaluated cabozantinib (CABOMETYX®) in combination with atezolizumab versus cabozantinib alone in patients with locally advanced or metastatic clear cell or non-clear cell (papillary or unclassified only) renal cell carcinoma (RCC) who progressed during or after immune checkpoint inhibitor therapy (either combination or monotherapy).

The safety profile of the combination of cabozantinib and atezolizumab observed in the trial was consistent with the known safety profiles for each single agent, and no new safety signals were identified with the combination.

Over the last 12 months, EXEL stock dropped by -18.40%. The one-year Exelixis Inc. stock forecast points to a potential upside of 33.82. The average equity rating for EXEL stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $5.41 billion, with 323.26 million shares outstanding and 315.46 million shares in the current float. Compared to the average trading volume of 2.84M shares, EXEL stock reached a trading volume of 4175573 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Exelixis Inc. [EXEL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EXEL shares is $25.19 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EXEL stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Exelixis Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 09, 2023. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on January 26, 2023, representing the official price target for Exelixis Inc. stock. Previously, the target price had yet another raise to $26, while JMP Securities analysts kept a Mkt Outperform rating on EXEL stock.

The Average True Range (ATR) for Exelixis Inc. is set at 0.43, with the Price to Sales ratio for EXEL stock in the period of the last 12 months amounting to 3.36. The Price to Book ratio for the last quarter was 2.16, with the Price to Cash per share for the same quarter was set at 4.03. Price to Free Cash Flow for EXEL in the course of the last twelve months was 16.16 with Quick ratio for the last quarter at 4.90.

EXEL Stock Performance Analysis:

Exelixis Inc. [EXEL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.97. With this latest performance, EXEL shares dropped by -3.59% in over the last four-week period, additionally sinking by -6.24% over the last 6 months – not to mention a drop of -18.40% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EXEL stock in for the last two-week period is set at 42.80, with the RSI for the last a single of trading hit 40.29, and the three-weeks RSI is set at 45.29 for Exelixis Inc. [EXEL]. The present Moving Average for the last 50 days of trading for this stock 17.04, while it was recorded at 16.63 for the last single week of trading, and 17.85 for the last 200 days.

Insight into Exelixis Inc. Fundamentals:

Exelixis Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.90 and a Current Ratio set at 5.00.


The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EXEL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Exelixis Inc. go to 46.00%.

Exelixis Inc. [EXEL] Insider Position Details

There are presently around $4,691 million, or 88.10% of EXEL stock, in the hands of institutional investors. The top three institutional holders of EXEL stocks are: BLACKROCK INC. with ownership of 34,530,294, which is approximately 1.873% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 32,289,014 shares of the stock with an approximate value of $538.26 million in EXEL stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $249.4 million in EXEL stock with ownership of nearly -6.673% of the company’s market capitalization.

215 institutional holders increased their position in Exelixis Inc. [NASDAQ:EXEL] by around 24,050,137 shares. Additionally, 175 investors decreased positions by around 19,533,139 shares, while 55 investors held positions by with 237,832,119 shares. The mentioned changes placed institutional holdings at 281,415,395 shares, according to the latest SEC report filing. EXEL stock had 51 new institutional investments in for a total of 3,591,699 shares, while 50 institutional investors sold positions of 6,816,577 shares during the same period.


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