Exelixis (NASDAQ:EXEL) Earns “Buy” Rating from Guggenheim

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reiterated by analysts at Guggenheim in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $42.00 target price on the biotechnology company’s stock. Guggenheim’s target price points to a potential upside of 21.77% from the company’s previous close.

A number of other analysts have also recently weighed in on EXEL. Bank of America cut shares of Exelixis from a “buy” rating to a “neutral” rating and upped their target price for the company from $35.00 to $39.00 in a research note on Tuesday, December 17th. Truist Financial lifted their price target on Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company raised their price target on shares of Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Brookline Capital Management assumed coverage on shares of Exelixis in a research report on Monday, December 23rd. They set a “buy” rating for the company. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Exelixis in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.24.

Exelixis Price Performance

EXEL stock opened at $34.49 on Wednesday. The company has a 50-day moving average of $34.21 and a two-hundred day moving average of $30.75. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53. Exelixis has a 52-week low of $20.14 and a 52-week high of $37.59.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Equities analysts expect that Exelixis will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 41,588 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the completion of the transaction, the executive vice president now owns 288,665 shares in the company, valued at approximately $9,918,529.40. This represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the completion of the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,588 shares of company stock valued at $3,981,864. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of Exelixis during the 3rd quarter worth about $30,000. USA Financial Formulas acquired a new position in Exelixis in the 4th quarter valued at $32,000. Principal Securities Inc. increased its position in Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after buying an additional 373 shares during the period. Kestra Investment Management LLC bought a new position in Exelixis during the 4th quarter worth $39,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Exelixis during the third quarter worth $42,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

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.