Exelixis (NASDAQ:EXEL) Trading Down 2.1%

Exelixis, Inc. (NASDAQ:EXEL) shares fell 2.1% during mid-day trading on Wednesday . The company traded as low as $26.94 and last traded at $27.03. 159,042 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 2,014,953 shares. The stock had previously closed at $27.60.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on EXEL shares. StockNews.com raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Truist Financial reiterated a “buy” rating and issued a $33.00 price objective (up from $32.00) on shares of Exelixis in a report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $29.00 target price on shares of Exelixis in a research report on Wednesday. JMP Securities increased their price target on Exelixis from $27.00 to $29.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $27.00 price objective on shares of Exelixis in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

Exelixis Price Performance

The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 43.13, a PEG ratio of 0.58 and a beta of 0.54. The firm has a 50 day moving average price of $24.83 and a 200-day moving average price of $23.23.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.44. The company had revenue of $637.18 million for the quarter, compared to the consensus estimate of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. Equities research analysts predict that Exelixis, Inc. will post 1.54 earnings per share for the current year.

Insider Activity at Exelixis

In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total value of $2,375,000.00. Following the sale, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Dana Aftab sold 95,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the sale, the executive vice president now owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the transaction, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at $19,622,479.20. The disclosure for this sale can be found here. Insiders have sold a total of 302,858 shares of company stock valued at $7,980,629 over the last 90 days. 2.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Exelixis during the fourth quarter worth about $73,449,000. LSV Asset Management increased its position in Exelixis by 107.7% during the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after buying an additional 2,989,021 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Exelixis by 948.3% in the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after acquiring an additional 2,220,150 shares during the period. Jupiter Asset Management Ltd. grew its position in shares of Exelixis by 148.2% during the first quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock worth $53,817,000 after acquiring an additional 1,354,062 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Exelixis in the 1st quarter valued at $22,455,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.