Here's Why Exelixis (EXEL) is a Strong Momentum Stock

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

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?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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 boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Exelixis has seen some interesting price action recently; the stock is up 2% over the past one week and up 4.1% over the past four weeks. And in the last one-year period, EXEL has gained 24.3%. As for the stock's trading volume, 1,450,004.75 shares on average were traded over the last 20 days.

Momentum investors also pay close attention to a company's earnings. For EXEL, 11 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.44 to $1.83 per share for 2024. EXEL boasts an average earnings surprise of 13.3%.

Investors should take the time to consider EXEL for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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