Exelixis (NASDAQ:EXEL) Lowered to Equal Weight Rating by Wells Fargo & Company

Wells Fargo & Company lowered shares of Exelixis (NASDAQ:EXEL) from an overweight rating to an equal weight rating in a research note released on Monday, Marketbeat Ratings reports. The brokerage currently has $36.00 price objective on the biotechnology company’s stock.

A number of other analysts have also recently weighed in on the company. Truist Financial boosted their price target on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. UBS Group upped their price objective on shares of Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Barclays raised their target price on shares of Exelixis from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Stephens reiterated an “equal weight” rating and issued a $29.00 price objective on shares of Exelixis in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus boosted their price objective on Exelixis from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.24.

Exelixis Trading Up 0.8 %

EXEL opened at $37.13 on Monday. Exelixis has a 1 year low of $20.14 and a 1 year high of $37.59. The stock has a fifty day moving average price of $34.22 and a 200 day moving average price of $31.39. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 1.13 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, sell-side analysts forecast that Exelixis will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, Director Mary C. Beckerle sold 12,210 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $34.88, for a total value of $425,884.80. Following the transaction, the director now directly owns 30,406 shares in the company, valued at $1,060,561.28. The trade was a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Several large investors have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in shares of Exelixis by 54.2% in the third quarter. Blue Trust Inc. now owns 6,094 shares of the biotechnology company’s stock worth $158,000 after acquiring an additional 2,141 shares during the last quarter. Raymond James & Associates boosted its position in Exelixis by 118.2% in the 3rd quarter. Raymond James & Associates now owns 239,661 shares of the biotechnology company’s stock valued at $6,219,000 after buying an additional 129,805 shares during the last quarter. Signaturefd LLC increased its stake in shares of Exelixis by 12.2% in the 3rd quarter. Signaturefd LLC now owns 6,138 shares of the biotechnology company’s stock valued at $159,000 after buying an additional 666 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Exelixis by 18.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,317 shares of the biotechnology company’s stock worth $268,000 after acquiring an additional 1,620 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its stake in shares of Exelixis by 12.5% during the third quarter. NorthCrest Asset Manangement LLC now owns 11,778 shares of the biotechnology company’s stock valued at $306,000 after acquiring an additional 1,308 shares during the period. Institutional investors 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.