Exelixis (NASDAQ:EXEL) Receives New Coverage from Analysts at UBS Group

UBS Group initiated coverage on shares of Exelixis (NASDAQ:EXEL) in a research report report published on Thursday, Marketbeat Ratings reports. The firm issued a neutral rating and a $30.00 target price on the biotechnology company’s stock.

Other research analysts also recently issued reports about the company. StockNews.com upgraded Exelixis from a buy rating to a strong-buy rating in a research report on Saturday, July 13th. Royal Bank of Canada reissued an outperform rating and issued a $27.00 price objective on shares of Exelixis in a research note on Wednesday, August 7th. Truist Financial restated a buy rating and issued a $33.00 target price (up from $32.00) on shares of Exelixis in a report on Thursday, August 8th. HC Wainwright reaffirmed a buy rating and issued a $29.00 price target on shares of Exelixis in a report on Wednesday. Finally, JMP Securities lifted their price target on Exelixis from $27.00 to $29.00 and gave the stock a market outperform rating in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $27.67.

Exelixis Stock Up 0.0 %

Shares of EXEL stock opened at $26.83 on Thursday. The company’s fifty day simple moving average is $25.04 and its two-hundred day simple moving average is $23.29. Exelixis has a 52 week low of $18.64 and a 52 week high of $27.83. The stock has a market cap of $8.13 billion, a P/E ratio of 41.92, a PEG ratio of 0.58 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. The company had revenue of $637.18 million for the quarter, compared to the consensus estimate of $468.21 million. On average, analysts anticipate that Exelixis will post 1.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was 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 owns 721,680 shares in the company, valued at approximately $19,622,479.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction dated 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 sale, the chief financial officer now owns 721,680 shares in the company, valued at approximately $19,622,479.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maria C. Freire sold 8,250 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total transaction of $219,120.00. Following the completion of the sale, the director now directly owns 91,007 shares of the company’s stock, valued at $2,417,145.92. The disclosure for this sale can be found here. In the last three months, insiders sold 302,858 shares of company stock valued at $7,980,629. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Farallon Capital Management LLC grew its position in shares of Exelixis by 1.6% during the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after buying an additional 424,000 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Exelixis by 0.4% in the second quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock valued at $340,714,000 after acquiring an additional 61,350 shares in the last quarter. LSV Asset Management lifted its stake in Exelixis by 107.7% in the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after acquiring an additional 2,989,021 shares during the period. Dimensional Fund Advisors LP grew its holdings in Exelixis by 7.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock worth $115,434,000 after acquiring an additional 349,837 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Exelixis by 12.7% during the 2nd quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock valued at $73,425,000 after purchasing an additional 370,199 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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.