Exelixis, Inc. (NASDAQ:EXEL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Exelixis, Inc. (NASDAQ:EXEL) has earned an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $29.57.

Several research firms recently issued reports on EXEL. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research note on Tuesday, October 15th. Bank of America boosted their target price on Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Oppenheimer reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Exelixis in a research note on Tuesday, July 30th. HC Wainwright reissued a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research report on Wednesday, September 18th. Finally, Morgan Stanley raised their target price on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th.

Exelixis Stock Performance

Shares of EXEL stock opened at $28.66 on Tuesday. Exelixis has a fifty-two week low of $18.64 and a fifty-two week high of $29.75. The company has a market capitalization of $8.69 billion, a P/E ratio of 44.78, a PEG ratio of 0.54 and a beta of 0.54. The stock has a 50 day moving average price of $26.42 and a two-hundred day moving average price of $23.83.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $468.21 million. As a group, equities analysts predict that Exelixis will post 1.59 earnings per share for the current 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 that occurred 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 sale, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at $13,024,750. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Exelixis 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 sale, the chief financial officer now directly owns 721,680 shares in the company, valued at approximately $19,622,479.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the executive vice president now owns 520,990 shares in the company, valued at approximately $13,024,750. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,858 shares of company stock valued at $8,640,129. Corporate insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of hedge funds have recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake in Exelixis by 232.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 728 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Exelixis during the third quarter valued at $30,000. Park Place Capital Corp bought a new stake in Exelixis in the 2nd quarter worth about $45,000. GAMMA Investing LLC raised its position in Exelixis by 107.9% in the 2nd 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 last quarter. Finally, EntryPoint Capital LLC lifted its stake in Exelixis by 537.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 1,746 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.