Exelixis (NASDAQ:EXEL) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $29.00 target price on the biotechnology company’s stock.

Other equities research analysts also recently issued reports about the company. StockNews.com upgraded Exelixis from a buy rating to a strong-buy rating in a report on Saturday, July 13th. Royal Bank of Canada reiterated an outperform rating and issued a $27.00 target price on shares of Exelixis in a research note on Wednesday, August 7th. JMP Securities boosted their target price on shares of Exelixis from $27.00 to $29.00 and gave the company a market outperform rating in a research note on Wednesday, August 7th. Truist Financial reaffirmed a buy rating and issued a $33.00 price target (up previously from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Finally, Oppenheimer reissued an outperform rating and issued a $29.00 price objective on shares of Exelixis in a research report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $27.50.

Exelixis Stock Down 2.8 %

Shares of EXEL opened at $26.82 on Wednesday. Exelixis has a 52-week low of $18.64 and a 52-week high of $27.83. The company has a market cap of $8.13 billion, a PE ratio of 41.91, a P/E/G ratio of 0.58 and a beta of 0.54. The business has a fifty day moving average of $24.94 and a 200 day moving average of $23.26.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The firm had revenue of $637.18 million during the quarter, compared to analysts’ expectations of $468.21 million. As a group, research analysts anticipate that Exelixis will post 1.54 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was 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 owns 721,680 shares in the company, valued at $19,622,479.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 721,680 shares of the company’s stock, valued at approximately $19,622,479.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $2,375,000.00. Following the transaction, the executive vice president now 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 have sold a total of 302,858 shares of company stock valued at $7,980,629 over the last ninety days. 2.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fisher Asset Management LLC boosted its holdings in Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 728 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Exelixis in the 1st quarter valued at approximately $28,000. Park Place Capital Corp acquired a new stake in Exelixis in the 2nd quarter worth approximately $45,000. GAMMA Investing LLC grew its position in Exelixis by 107.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 1,041 shares during the last quarter. Finally, EntryPoint Capital LLC increased 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 purchasing an additional 1,746 shares in the last quarter. 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.