Exelixis (NASDAQ:EXEL) Stock Rating Reaffirmed by HC Wainwright

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $29.00 price target on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 8.09% from the stock’s current price.

A number of other brokerages have also recently issued reports on EXEL. Oppenheimer reiterated an “outperform” rating and issued a $29.00 target price on shares of Exelixis in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $27.00 price target on shares of Exelixis in a research note on Wednesday, August 7th. Truist Financial reiterated a “buy” rating and set a $33.00 price target (up previously from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 13th. Finally, JMP Securities raised their target price on Exelixis from $27.00 to $29.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Exelixis currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Exelixis Stock Up 0.0 %

EXEL stock opened at $26.83 on Wednesday. The company has a market cap of $8.13 billion, a PE ratio of 41.92, a price-to-earnings-growth ratio of 0.58 and a beta of 0.54. The business has a 50-day simple moving average of $25.04 and a 200 day simple moving average of $23.29. Exelixis has a 52 week low of $18.64 and a 52 week high of $27.83.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during 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 at Exelixis

In other news, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the transaction, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the business’s stock in a transaction dated 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 approximately $13,024,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.79, for a total value of $515,800.00. Following the sale, the executive vice president now owns 630,325 shares in the company, valued at approximately $16,256,081.75. The disclosure for this sale can be found here. Insiders sold a total of 302,858 shares of company stock valued at $7,980,629 in the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp purchased a new stake in Exelixis in the 4th quarter valued at about $218,000. Norges Bank acquired a new stake in shares of Exelixis in the fourth quarter valued at approximately $73,449,000. Coldstream Capital Management Inc. acquired a new stake in shares of Exelixis in the fourth quarter valued at approximately $216,000. Quest Partners LLC purchased a new stake in shares of Exelixis during the fourth quarter worth approximately $352,000. Finally, Franklin Resources Inc. raised its stake in shares of Exelixis by 23.6% during the fourth quarter. Franklin Resources Inc. now owns 434,471 shares of the biotechnology company’s stock worth $10,423,000 after purchasing an additional 82,916 shares during the last quarter. 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.