Here's Why Exelixis (EXEL) is a Strong Momentum Stock
In This Article:
- Exelixis, Inc. (EXEL) is a biotechnology company that focuses on the discovery, development, and commercialization of new cancer treatments.
- The stock has shown strong momentum, with a 6.2% gain over the past week and a 38.2% gain over the past four weeks, and a 72.6% gain over the last year.
- EXEL has a Zacks Rank #2 (Buy) and a Momentum Style Score of B, with 10 analysts revising their earnings estimate upwards in the last 60 days for fiscal 2024.
- The company boasts an average earnings surprise of 26.5% and a strong VGM Score of A.
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Exelixis (EXEL)
Alameda, CA-based Exelixis, Inc. is an oncology-focused biotechnology company that primarily focuses on the discovery, development and commercialization of new drugs for the treatment of difficult-to-treat cancers. The company is leveraging its investments, expertise and strategic partnerships to target an expanding range of tumor types and indications with its clinically differentiated pipeline of small molecules, antibody-drug conjugates (ADCs) and other biotherapeutics.
EXEL is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of B and VGM Score of A. Shares are up 6.2% over the past one week and up 38.2% over the past four weeks. EXEL has gained 72.6% in the last one-year period as well. Looking at trading volume, an average of 2,898,877.50 shares exchanged hands over the last 20 trading days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. 10 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.13 to $1.92 per share. EXEL boasts an average earnings surprise of 26.5%.
EXEL should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Exelixis, Inc. (EXEL) : Free Stock Analysis Report