Exelixis’ (EXEL) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Exelixis (NASDAQ:EXEL) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $27.00 target price on the biotechnology company’s stock.

EXEL has been the topic of several other research reports. Oppenheimer restated an outperform rating and issued a $29.00 price target on shares of Exelixis in a report on Tuesday, July 30th. JMP Securities reissued a market outperform rating and issued a $29.00 target price on shares of Exelixis in a research note on Friday, September 20th. Truist Financial reaffirmed a buy rating and set a $33.00 price target (up from $32.00) on shares of Exelixis in a research report on Thursday, August 8th. HC Wainwright reissued a buy rating and issued a $29.00 price objective on shares of Exelixis in a research report on Wednesday, September 18th. Finally, UBS Group began coverage on Exelixis in a research report on Thursday, September 19th. They issued a neutral rating and a $30.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $27.67.

Exelixis Stock Up 0.7 %

Shares of EXEL opened at $26.24 on Thursday. Exelixis has a fifty-two week low of $18.64 and a fifty-two week high of $27.83. The company’s fifty day moving average is $25.49 and its two-hundred day moving average is $23.45. The firm has a market cap of $7.48 billion, a PE ratio of 41.00, a price-to-earnings-growth ratio of 0.56 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. The firm had revenue of $637.18 million during the quarter, compared to the consensus estimate 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 anticipate that Exelixis will post 1.59 earnings per share for the current year.

Insider Activity at Exelixis

In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 91,007 shares of the company’s stock, valued at approximately $2,417,145.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the sale, the executive vice president now owns 520,990 shares in the company, valued at $13,024,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Maria C. Freire sold 8,250 shares of Exelixis stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the transaction, the director now owns 91,007 shares of the company’s stock, valued at approximately $2,417,145.92. The disclosure for this sale can be found here. Insiders have sold 327,858 shares of company stock valued at $8,640,129 over the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several large investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake 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 period. Rise Advisors LLC acquired a new position in Exelixis during the 1st quarter valued at approximately $28,000. Park Place Capital Corp bought a new position in Exelixis during the 2nd quarter worth $45,000. GAMMA Investing LLC increased its position in Exelixis by 107.9% in the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,041 shares during the period. Finally, EntryPoint Capital LLC lifted its stake in Exelixis by 537.2% in the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 1,746 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

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.