Exelixis Inc Surpasses Analyst Target Price, But What’s Next?
Recently, Exelixis Inc (Symbol: EXEL) shares have risen above the average analyst 12-month target price of $37.05, trading at $37.18 per share. When a stock reaches the target set by an analyst, they typically choose one of two paths: downgrade their valuation or raise their target price. Analysts may also adjust their targets based on recent developments that positively influence the stock price. If the outlook for Exelixis appears promising, it may warrant a reassessment of that target price.
Analyst Target Overview
There are 21 analysts within the Zacks coverage universe contributing to the average target price for Exelixis Inc. While this average reflects a collective opinion, it is essential to note that it incorporates a wide spectrum of individual forecasts. For instance, one analyst has set a target as low as $23.00, while another sees potential all the way up to $45.00. The standard deviation among these targets is $5.408, indicating some diversity in perspectives.
Understanding Market Sentiment
The purpose of examining the average EXEL price target is to leverage the “wisdom of crowds.” This approach amalgamates the insights of multiple analysts rather than relying on the assessment of a single expert. With Exelixis shares now trading above the average target price of $37.05, investors should evaluate whether this level is merely a stepping stone towards even higher targets, or if it suggests that stock valuations have become too stretched. Below is a table illustrating the current assessments from analysts covering Exelixis Inc:
| Recent EXEL Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 11 | 12 | 12 | 13 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 9 | 8 | 8 | 6 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 1 | 1 | 1 | 1 |
| Average rating: | 2.05 | 1.95 | 1.95 | 1.81 |
The average rating in the table above reflects a scale where 1 indicates Strong Buy and 5 indicates Strong Sell. This data was sourced from Zacks Investment Research via Quandl.com. For more insights, access the latest Zacks research report on EXEL — FREE.
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The views expressed in this article are those of the author and do not necessarily reflect those of Nasdaq, Inc.
