Exelixis (NASDAQ:EXEL) Rating Reiterated by JMP Securities

Exelixis (NASDAQ:EXEL)‘s stock had its “market outperform” rating reissued by analysts at JMP Securities in a note issued to investors on Friday, Benzinga reports. They presently have a $29.00 target price on the biotechnology company’s stock. JMP Securities’ price target would indicate a potential upside of 9.93% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $27.00 price target on shares of Exelixis in a research report on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and set a $29.00 target price on shares of Exelixis in a report on Tuesday, July 30th. StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research note on Wednesday. Finally, UBS Group started coverage on Exelixis in a research note on Thursday. They issued a “neutral” rating and a $30.00 target price for the company. Five 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.67.

Exelixis Price Performance

EXEL stock traded down $0.45 during midday trading on Friday, hitting $26.38. The stock had a trading volume of 286,919 shares, compared to its average volume of 2,016,016. The company’s 50-day moving average price is $25.12 and its 200 day moving average price is $23.31. The firm has a market cap of $8.00 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 0.58 and a beta of 0.54. Exelixis has a 12-month low of $18.64 and a 12-month high of $27.83.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The business had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. As a group, sell-side analysts anticipate that Exelixis will post 1.54 EPS for the current year.

Insider Activity at Exelixis

In related news, CFO Christopher J. Senner sold 125,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.19, for a total value 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 $19,622,479.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Christopher J. Senner sold 125,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dana Aftab sold 95,000 shares of the 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 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 disclosure for this sale can be found here. Insiders sold a total of 302,858 shares of company stock worth $7,980,629 in the last ninety days. 2.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exelixis

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in Exelixis during the 4th quarter worth about $73,449,000. Coldstream Capital Management Inc. acquired a new stake in shares of Exelixis during the 4th quarter worth approximately $216,000. Quest Partners LLC bought a new stake in shares of Exelixis during the fourth quarter worth approximately $352,000. Franklin Resources Inc. lifted its holdings in Exelixis by 23.6% in the fourth quarter. Franklin Resources Inc. now owns 434,471 shares of the biotechnology company’s stock valued at $10,423,000 after buying an additional 82,916 shares during the period. Finally, Aigen Investment Management LP bought a new position in Exelixis in the fourth quarter valued at approximately $486,000. 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.