Truist Securities Downgrades Exelixis to Hold
Truist Securities lowered its rating on Exelixis to hold, setting a $54 price target, a 1.41% downside from the current price.
Key Points
- Truist Securities downgraded Exelixis, Inc. (NASDAQ:EXEL) to a hold rating with a $54 price target on June 25, 2026.
- Truist Securities's $54 price target implies 1.41% downside from Exelixis, Inc.'s ($EXEL) current $54.77 share price.
- Exelixis shares traded near $52.87 on Thursday, with a market cap of approximately $12.9 billion and a P/E ratio of 17.0.
- Analysts maintain a buy consensus with an average target price of $49, while insiders engaged in both planned and unplanned transactions.
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On June 25, 2026, Truist Securities lowered its rating on Exelixis, Inc. (NASDAQ:EXEL) from its previous standing to a hold, setting a price target of $54. Analyst Gregory Renza made this adjustment as part of the firm's latest review of the biotechnology company.
Truist Securities vs. the S&P 500
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Other Institutional Activity in Exelixis
BlackRock, Inc. grew its holdings in Exelixis by 614,447 shares, bringing its total to 30,816,309 shares valued at approximately $1.32 billion. Renaissance Technologies LLC reduced its position by 187,050 shares, ending with 13,726,993 shares worth about $588.8 million. Farallon Capital Management LLC cut its stake by 2,598,490 shares to 13,111,010 shares, valued at $562.3 million. AQR Capital Management LLC also trimmed its holdings by 562,647 shares, resulting in a total of 13,095,741 shares valued at $561.7 million. Meanwhile, Vanguard Portfolio Management LLC initiated a new position with 12,085,273 shares, valued at $518.3 million.
Exelixis, Inc. Stock Up 0.6%
Shares of Exelixis traded near $52.87 on Thursday. The company has a market cap of approximately $12.9 billion and a P/E ratio of 17.0, with a forward P/E of 12.7. Exelixis has a beta of 0.435, indicating lower volatility compared to the broader market. The stock's 52-week range is between $33.76 and $53.93, with a 50-day moving average of $48.53 and a 200-day moving average of $43.49. The company maintains a strong current ratio of 3.26 and a quick ratio of 3.01, with a debt-to-equity ratio of 8.76.
$EXEL price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Exelixis reported revenue of $2.38 billion, showing a growth of 10% compared to the previous period. The company achieved an EPS of $3.02, with a net margin of 35.1% and a return on equity of 41.0%. Investors can look forward to the next earnings report, scheduled for August 4, 2026.
Insider Buying and Selling at Exelixis, Inc.
On June 1, 2026, Sue Gail Eckhardt sold 9,812 shares at an average price of $50.14 under a planned transaction. Jack Wyszomierski also sold 3,925 shares at $50.55 on the same day, as part of a planned sale. On May 27, 2026, multiple insiders, including Bob Oliver, Stelios Papadopoulos, and Jack Wyszomierski, each acquired 8,367 shares without a specific price disclosed, indicating unplanned purchases.
Analysts Set New Price Targets
On June 25, 2026, Truist Securities downgraded Exelixis to a hold with a $54 price target. A day earlier, Citizens maintained its buy rating with a $55 target. Other firms, including HC Wainwright & Co. and TD Cowen, continued to rate Exelixis as a buy, with targets of $56 and $55, respectively. The overall analyst consensus remains a buy, with an average target price of $49 based on 16 analyst opinions.
About Exelixis, Inc.
Exelixis, Inc. is a biotechnology company based in Alameda, California, focusing on the discovery, development, and commercialization of cancer treatments. Led by CEO Dr. Michael Morrissey, the company is known for its products like CABOMETYX and COMETRIQ, which target various cancer types. Exelixis collaborates with several pharmaceutical companies to advance its research and development efforts.
Bottom Line
Truist Securities' recent downgrade of Exelixis to a hold rating reflects a more cautious stance on the stock's near-term potential. With a new price target of $54, investors should consider this update as part of their broader research. Despite the downgrade, Exelixis remains a key player in the biotechnology sector, with a strong pipeline and strategic partnerships. Keep in mind that analyst ratings and targets are opinions and not guarantees of future performance.
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