Exelixis (NASDAQ:EXEL) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of Exelixis (NASDAQ:EXEL) from a buy rating to a strong-buy rating in a report issued on Thursday.

EXEL has been the subject of several other reports. HC Wainwright restated a buy rating and issued a $28.00 target price on shares of Exelixis in a research report on Friday, May 3rd. TD Cowen boosted their price objective on shares of Exelixis from $25.00 to $27.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Barclays downgraded Exelixis from an overweight rating to an equal weight rating and set a $25.00 target price on the stock. in a report on Thursday, April 11th. William Blair reiterated an outperform rating on shares of Exelixis in a research note on Wednesday, May 1st. Finally, TheStreet upgraded Exelixis from a c+ rating to a b- rating in a research report on Monday, March 18th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $26.13.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $22.53 on Thursday. The company has a market capitalization of $6.83 billion, a P/E ratio of 35.20, a P/E/G ratio of 0.55 and a beta of 0.56. The business’s 50 day simple moving average is $21.86 and its 200 day simple moving average is $22.34. Exelixis has a 1 year low of $18.64 and a 1 year high of $24.34.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.16). The company had revenue of $425.23 million for the quarter, compared to analyst estimates of $461.04 million. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. On average, sell-side analysts anticipate that Exelixis will post 1.15 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In other news, Director Jack L. Wyszomierski sold 10,923 shares of Exelixis stock in a transaction on Monday, May 13th. The shares were sold at an average price of $21.37, for a total transaction of $233,424.51. Following the transaction, the director now owns 338,948 shares in the company, valued at $7,243,318.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Jack L. Wyszomierski sold 10,923 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $21.37, for a total transaction of $233,424.51. Following the completion of the transaction, the director now directly owns 338,948 shares of the company’s stock, valued at approximately $7,243,318.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director George Poste sold 11,686 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $20.96, for a total value of $244,938.56. Following the completion of the sale, the director now owns 213,907 shares in the company, valued at approximately $4,483,490.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,896 shares of company stock worth $660,677. 2.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in Exelixis by 9.3% during the third quarter. FMR LLC now owns 2,884,424 shares of the biotechnology company’s stock worth $63,025,000 after buying an additional 246,605 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Exelixis by 18.9% in the 3rd quarter. Invesco Ltd. now owns 1,440,582 shares of the biotechnology company’s stock valued at $31,477,000 after purchasing an additional 229,242 shares during the period. Hsbc Holdings PLC boosted its position in shares of Exelixis by 164.1% during the 3rd quarter. Hsbc Holdings PLC now owns 132,411 shares of the biotechnology company’s stock valued at $2,934,000 after purchasing an additional 82,276 shares in the last quarter. Mariner LLC boosted its position in shares of Exelixis by 11.8% during the 3rd quarter. Mariner LLC now owns 19,953 shares of the biotechnology company’s stock valued at $436,000 after purchasing an additional 2,113 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Exelixis by 16.1% during the third quarter. Federated Hermes Inc. now owns 180,047 shares of the biotechnology company’s stock worth $3,934,000 after purchasing an additional 25,016 shares during the period. 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.