Exelixis (NASDAQ:EXEL) Hits New 12-Month High – Time to Buy?

Exelixis, Inc. (NASDAQ:EXEL)’s stock price reached a new 52-week high on Thursday . The company traded as high as $52.18 and last traded at $51.9580, with a volume of 536285 shares changing hands. The stock had previously closed at $50.03.

Exelixis News Summary

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Zacks Research raised several forward earnings estimates for Exelixis, including Q2 2026, Q3 2026, FY2026, FY2027, and FY2028, suggesting analysts see improving profitability ahead. Zacks Research estimate updates
• Positive Sentiment: Exelixis said management will host fireside chats at upcoming June investor conferences, which can support investor confidence by highlighting strategy, pipeline progress, and commercial execution. Investor conference webcast announcement
• Positive Sentiment: Wall Street commentary and fair-value updates have trended higher, with one article noting a refreshed fair value estimate near $49.65 and broader debate about Exelixis’s growth and competitive position. Fair value target article
• Neutral Sentiment: Shareholders approved the company’s equity plan and board slate at the annual meeting, a routine governance update that removes an overhang but is not a major catalyst on its own. Shareholder approval article
• Neutral Sentiment: Executive Vice President Dana Aftab sold 43,451 shares for about $2.19 million. Insider sales can weigh on sentiment, but this does not necessarily signal a change in the company’s fundamentals. Insider sale filing
• Negative Sentiment: One Zacks note trimmed Q1 2027 EPS estimates slightly and maintained only a Hold rating, showing that not all analysts are turning more bullish. Zacks Hold rating and estimate cut

Wall Street Analyst Weigh In

A number of analysts have weighed in on EXEL shares. Truist Financial raised shares of Exelixis to a “strong-buy” rating in a research report on Monday, April 27th. TD Cowen increased their target price on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Exelixis in a research report on Tuesday, May 19th. Barclays increased their target price on shares of Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Finally, Zacks Research downgraded shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $47.35.

Exelixis Trading Down 1.9%

The company has a market cap of $12.69 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.08 and a beta of 0.38. The firm’s 50-day moving average price is $46.01 and its 200 day moving average price is $44.22.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. During the same period last year, the business earned $0.55 EPS. Exelixis’s quarterly revenue was up 10.0% compared to the same quarter last year. Analysts forecast that Exelixis, Inc. will post 3.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Christopher J. Senner sold 34,901 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total value of $1,745,050.00. Following the transaction, the chief financial officer directly owned 952,317 shares in the company, valued at $47,615,850. This trade represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George Poste sold 60,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $45.71, for a total value of $2,742,600.00. Following the completion of the transaction, the director owned 118,832 shares in the company, valued at approximately $5,431,810.72. This represents a 33.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 205,433 shares of company stock worth $9,930,259 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Large investors have recently modified their holdings of the company. Anchor Investment Management LLC lifted its holdings in shares of Exelixis by 500.0% in the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 500 shares in the last quarter. Motiv8 Investments LLC bought a new position in shares of Exelixis in the 4th quarter worth $26,000. Cassaday & Co Wealth Management LLC bought a new position in Exelixis during the 1st quarter valued at $27,000. Western Wealth Management LLC bought a new position in Exelixis during the 1st quarter valued at $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in Exelixis during the 4th quarter valued at $29,000. 85.27% of the stock is currently owned by institutional investors.

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.