Exelixis, Inc. (NASDAQ:EXEL) Receives $37.24 Consensus PT from Brokerages

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been assigned a consensus rating of “Moderate Buy” from the twenty ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $37.24.

EXEL has been the topic of several research reports. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Exelixis in a research report on Thursday, February 13th. BMO Capital Markets downgraded Exelixis from an “outperform” rating to a “market perform” rating and raised their target price for the company from $36.00 to $40.00 in a report on Friday, December 20th. Barclays upped their price target on Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Morgan Stanley raised shares of Exelixis from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $30.00 to $40.00 in a research report on Monday, January 27th. Finally, JMP Securities reissued a “market outperform” rating and set a $41.00 target price on shares of Exelixis in a research report on Thursday, January 23rd.

Exelixis Stock Performance

NASDAQ EXEL opened at $38.69 on Monday. The firm has a market capitalization of $10.83 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 1.13 and a beta of 0.53. Exelixis has a one year low of $20.14 and a one year high of $38.84. The company’s 50 day moving average price is $34.53 and its 200 day moving average price is $31.70.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. Sell-side analysts forecast that Exelixis will post 2.04 EPS for the current fiscal year.

Insider Activity at Exelixis

In other Exelixis news, Director Jack L. Wyszomierski sold 8,768 shares of Exelixis stock in a transaction on Friday, February 28th. The shares were sold at an average price of $37.80, for a total value of $331,430.40. Following the completion of the transaction, the director now owns 356,605 shares of the company’s stock, valued at $13,479,669. The trade was a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Christopher J. Senner sold 29,314 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $36.14, for a total transaction of $1,059,407.96. Following the sale, the chief financial officer now directly owns 779,607 shares in the company, valued at $28,174,996.98. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,343 shares of company stock valued at $4,789,234 over the last three months. 2.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Exelixis

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Exelixis by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 29,429,252 shares of the biotechnology company’s stock worth $979,994,000 after purchasing an additional 121,750 shares during the last quarter. LSV Asset Management increased its position in Exelixis by 0.8% in the fourth quarter. LSV Asset Management now owns 8,169,847 shares of the biotechnology company’s stock worth $272,056,000 after buying an additional 67,470 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in Exelixis by 10.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,630,940 shares of the biotechnology company’s stock valued at $254,110,000 after buying an additional 708,312 shares during the last quarter. Invesco Ltd. lifted its stake in Exelixis by 308.1% in the fourth quarter. Invesco Ltd. now owns 3,975,241 shares of the biotechnology company’s stock valued at $132,376,000 after buying an additional 3,001,204 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Exelixis by 25.7% during the fourth quarter. AQR Capital Management LLC now owns 3,967,005 shares of the biotechnology company’s stock valued at $132,101,000 after acquiring an additional 810,857 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.