Exelixis (NASDAQ:EXEL) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research report released on Monday,Benzinga reports. They currently have a $40.00 price target on the biotechnology company’s stock.

Several other research analysts have also recently weighed in on EXEL. Stifel Nicolaus boosted their target price on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Truist Financial lifted their price target on shares of Exelixis from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 price target on shares of Exelixis in a research report on Wednesday, October 30th. Finally, Oppenheimer lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $41.00 to $33.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.81.

Exelixis Price Performance

Shares of Exelixis stock opened at $32.72 on Monday. The stock has a market cap of $9.34 billion, a P/E ratio of 20.97, a P/E/G ratio of 0.72 and a beta of 0.53. The stock’s 50 day simple moving average is $34.84 and its 200-day simple moving average is $29.89. Exelixis has a 1-year low of $20.01 and a 1-year high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The business had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. As a group, research analysts expect that Exelixis will post 1.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the transaction, the executive vice president now owns 498,945 shares in the company, valued at $15,666,873. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now 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. Insiders sold a total of 289,736 shares of company stock worth $10,139,360 over the last 90 days. Corporate insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Institutional investors and hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Exelixis during the third quarter worth $30,000. USA Financial Formulas acquired a new position in shares of Exelixis during the fourth quarter worth $32,000. Brooklyn Investment Group acquired a new position in shares of Exelixis during the third quarter worth $42,000. UMB Bank n.a. grew its stake in shares of Exelixis by 68.4% during the fourth quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 553 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Exelixis during the third quarter worth $61,000. 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.