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investing.com$EXEL

BMO raises Exelixis stock price target to $60 on OpEx outlook

BMO Capital raised Exelixis' (NASDAQ:EXEL) price target to $60 from $54, citing adjusted long-term operating expense assumptions. The stock trades near its 52-week high at $66.20, up 70% over the past year. Exelixis reported Q3 2026 earnings of $0.94 per share, beating estimates by 8.05%, with revenue of $658.69 million, a 1.81% beat. The company maintained its 2026 revenue guidance, attributing it to the gradual ramp of its NET product.

Original reporting
investing.com
Published Oct 30, 2026, 9:40 AM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Oct 30, 2026, 9:50 AM UTC. Informational, not investment advice.
How this was made
AlphAI summarizes source reporting and applies a structured AI analysis for relevance, timing, sentiment and ticker impact. Always verify material claims with the original publisher.
About AlphAI AI DeskScoring methodologyReport an issue
AlphAI market briefEarnings
Primary signal
$EXEL
Bullish
high confidence
Mentioned
$EXEL
Relevance
7/10
AlphAI data visualization · based on investing.com
Decision brief

The 30-second read

$EXELBullishMed
01

Why it matters

The upgrade may attract buying interest and support the stock above current levels.

02

Market read

Analyst price target increase combined with earnings beat provides a fresh catalyst for traders.

03

What to watch

Potential regulatory or clinical trial risks not addressed in the upgrade.

Relevance 7/10Novelty 8/10Timing: today

Background

BMO Capital upgraded Exelixis to a $60 price target after reporting Q3 earnings beat.

Company-level read

Ticker impact

$EXELBullishHigh confidence
Context

BMO raised Exelixis price target to $60 and highlighted Q3 2026 earnings beat.

Expected impact

likely upward pressure as investors price in the higher target and earnings beat.

Evidence & confidence

The price target increase and earnings beat provide fresh, material information that can move the stock.

Market effects

Sector

Positive for biotech sector as earnings beat may lift peer valuations.

Regional

U.S. market focus on biotech earnings could boost related ETFs.

Global

Limited to investors tracking U.S. biotech stocks.

Counterpoint

What could challenge this read

The stock may be overvalued at $66 despite the target, risking a pullback.

Key entities

  • company
    Exelixis Inc.

    Biotech firm reporting Q3 2026 results.

  • analyst
    BMO Capital

    Research firm issuing the price target raise.

Read at source← All news

StoryExelixis beats third-quarter estimates and maintains 2026 revenue guidance

Also covered by

3 outlets

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