Exelixis, Inc. (NASDAQ:EXEL) Receives $32.44 Average PT from Brokerages

Shares of Exelixis, Inc. (NASDAQ:EXEL) have earned an average rating of “Moderate Buy” from the nineteen ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $33.00.

A number of brokerages recently commented on EXEL. JMP Securities reissued a “market outperform” rating and issued a $29.00 price target on shares of Exelixis in a report on Friday, October 11th. Brookline Capital Management assumed coverage on shares of Exelixis in a report on Monday, December 23rd. They issued a “buy” rating on the stock. Guggenheim raised their price objective on shares of Exelixis from $33.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company upped their price objective on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a research report on Wednesday, October 30th.

Exelixis Trading Up 3.0 %

NASDAQ:EXEL opened at $34.21 on Friday. Exelixis has a 12-month low of $19.20 and a 12-month high of $36.97. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 0.89 and a beta of 0.53. The company’s 50-day moving average is $34.78 and its two-hundred day moving average is $28.63.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. Exelixis’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 earnings per share. On average, equities research analysts forecast that Exelixis will post 1.69 earnings per share for the current fiscal year.

Insider Transactions at Exelixis

In other news, EVP Dana Aftab sold 1,162 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, 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 through this link. Also, Director George Poste sold 30,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the transaction, the director now owns 169,020 shares in the company, valued at $5,746,680. This represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,736 shares of company stock worth $10,849,110. 2.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Exelixis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its position in Exelixis by 45.3% during the 2nd quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock worth $2,031,000 after purchasing an additional 28,126 shares in the last quarter. Farallon Capital Management LLC raised its position in Exelixis by 1.6% in the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock valued at $608,993,000 after purchasing an additional 424,000 shares during the last quarter. Seizert Capital Partners LLC boosted its stake in shares of Exelixis by 8.0% during the third quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock valued at $12,195,000 after purchasing an additional 34,875 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Exelixis by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock worth $46,473,000 after purchasing an additional 991,494 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Exelixis by 60.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock valued at $1,424,000 after buying an additional 20,641 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.