Exelixis (NASDAQ:EXEL) Hits New 1-Year High at $27.71

Exelixis, Inc. (NASDAQ:EXEL) hit a new 52-week high on Tuesday . The company traded as high as $27.71 and last traded at $27.61, with a volume of 115970 shares traded. The stock had previously closed at $27.47.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EXEL shares. Truist Financial restated a “buy” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Oppenheimer restated an “outperform” rating and issued a $29.00 price target on shares of Exelixis in a research note on Tuesday, July 30th. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research report on Wednesday. JMP Securities increased their price objective on shares of Exelixis from $27.00 to $29.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $27.00 target price on shares of Exelixis in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.50.

Exelixis Stock Performance

The stock’s fifty day simple moving average is $24.94 and its 200-day simple moving average is $23.26. The stock has a market cap of $8.13 billion, a P/E ratio of 41.91, a P/E/G ratio of 0.58 and a beta of 0.54.

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

Insider Activity

In related news, EVP Jeffrey Hessekiel sold 20,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.79, for a total value of $515,800.00. Following the transaction, the executive vice president now owns 630,325 shares in the company, valued at $16,256,081.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the business’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 transaction of $3,398,750.00. Following the completion of the transaction, the chief financial officer now directly owns 721,680 shares in the company, valued at $19,622,479.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.79, for a total value of $515,800.00. Following the sale, the executive vice president now owns 630,325 shares of the company’s stock, valued at $16,256,081.75. The disclosure for this sale can be found here. In the last three months, insiders sold 302,858 shares of company stock worth $7,980,629. 2.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Exelixis

Institutional investors have recently modified their holdings of the business. Fisher Asset Management LLC grew its position in Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 728 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Exelixis during the 1st quarter valued at approximately $28,000. Park Place Capital Corp acquired a new position in Exelixis during the 2nd quarter worth approximately $45,000. GAMMA Investing LLC lifted its stake in Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 1,041 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its stake in Exelixis by 537.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 1,746 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

About Exelixis

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.