Citizens JMP Maintains Buy Rating on Exelixis with $50 Price Target

Citizens JMP maintains a Buy rating for Exelixis with a $50 price target. The company received a Buy rating from Morgan Stanley's Sean Laaman on July 22, but a Hold rating from Barclays on July 21. Exelixis has a one-year high of $49.62 and a one-year low of $22.36. The company has an average volume of 3.28M, and corporate insider sentiment is negative due to an increase in insiders selling their shares in May 2025.

Exelixis Inc. (EXEL) has seen a significant increase in its price target from Morgan Stanley analyst Sean Laaman, who raised the target from $47 to $48 while maintaining an Overweight rating on the stock [1]. This move comes ahead of the company's second-quarter earnings, scheduled for Monday, July 28. Additionally, Laaman slightly raised his forecast for Exelixis' 2025 net product revenue to $2.105 billion.

The average one-year price target for Exelixis, as per 19 analysts, is $45.89, with a high estimate of $60.00 and a low estimate of $36.00 [1]. The consensus recommendation from 20 brokerage firms is currently "Outperform," indicating strong investor sentiment [1]. In contrast, Citizens JMP maintains a Buy rating with a $50 price target, while Barclays has given a Hold rating [2].

Exelixis reported a strong first quarter with significant progress across its business components. The US Cabozantinib franchise saw a 36% year-over-year growth in net product revenues, reaching $513 million [1]. The company also received US regulatory approval for CABOMETYX in neuroendocrine tumors ahead of schedule. However, gross to net deductions increased due to higher PHS and 340B volumes, and the development program for XL495 was discontinued due to drug-related toxicities [1].

Investors will focus on the lead drug Cabometyx’s performance when Exelixis reports its second-quarter 2025 results. The Zacks Consensus Estimate for sales and earnings is pegged at $527 million and 63 cents per share, respectively [2]. Exelixis has a history of beating earnings, with an average surprise of 48.6% over the last four quarters [2].

The company's shares have gained 33.5% year to date, despite an increase in insider selling in May 2025, indicating negative corporate insider sentiment [2]. Exelixis' one-year high is $49.62, and its one-year low is $22.36, with an average volume of 3.28M shares traded daily.

In summary, Exelixis Inc. (EXEL) is expected to report strong second-quarter earnings, driven by the performance of its lead drug Cabometyx. Analysts have raised their price targets, reflecting positive sentiment. However, the company faces risks related to product commercial success, market competition, and regulatory review processes.

References:
[1] https://www.gurufocus.com/news/2992714/exelixis-exel-target-price-raised-by-morgan-stanley-analyst-exel-stock-news
[2] https://www.nasdaq.com/articles/exelixis-q2-earnings-will-cabometyx-sales-drive-growth