Exelixis Hold Rating: Strong Performance and Promising Pipeline Balanced by Fair Valuation

In a report released yesterday, Derek Archila from Wells Fargo maintained a Hold rating on Exelixis (EXEL – Research Report), with a price target of $36.00.

Derek Archila has given his Hold rating due to a combination of factors influencing Exelixis’s current market position. Despite a strong performance with Cabometyx surpassing revenue expectations and an optimistic outlook for future revenues, the stock price is perceived as not being undervalued, which tempers enthusiasm for a more aggressive rating.
Additionally, while there are promising developments in the pipeline, such as the potential for positive outcomes from the STELLAR-303 trial and other ongoing studies, the balance of risk and reward at the current share price suggests a cautious approach. The company’s strategic moves, including cash generation and share repurchases, are positive, yet the overall assessment indicates that the stock is fairly valued at this time, justifying the Hold rating.

In another report released today, Barclays also maintained a Hold rating on the stock with a $29.00 price target.

Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EXEL in relation to earlier this year.