Exelixis (NASDAQ:EXEL) Rating Reiterated by Royal Bank of Canada

Exelixis (NASDAQ:EXEL)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $27.00 price target on the biotechnology company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 3.53% from the stock’s current price.

EXEL has been the topic of several other research reports. StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 13th. UBS Group assumed coverage on shares of Exelixis in a report on Thursday, September 19th. They set a “neutral” rating and a $30.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $29.00 price target on shares of Exelixis in a report on Wednesday, September 18th. JMP Securities restated a “market outperform” rating and set a $29.00 price objective on shares of Exelixis in a report on Friday, September 20th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $33.00 target price (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Five 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.67.

Exelixis Trading Up 0.1 %

Shares of EXEL stock traded up $0.02 on Thursday, reaching $26.08. The company had a trading volume of 139,014 shares, compared to its average volume of 2,028,192. The stock has a market cap of $7.44 billion, a PE ratio of 40.75, a PEG ratio of 0.56 and a beta of 0.54. The company has a 50-day moving average of $25.42 and a 200-day moving average of $23.43. 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 results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. The company had revenue of $637.18 million for the quarter, compared to analysts’ expectations of $468.21 million. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. Sell-side analysts anticipate that Exelixis will post 1.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Dana Aftab sold 95,000 shares of the firm’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 completion of the sale, the executive vice president now directly owns 520,990 shares of the company’s stock, valued at $13,024,750. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the executive vice president now owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $25.79, for a total transaction of $515,800.00. Following the sale, the executive vice president now owns 630,325 shares of the company’s stock, valued at $16,256,081.75. The disclosure for this sale can be found here. Insiders have sold a total of 327,858 shares of company stock valued at $8,640,129 over the last 90 days. 2.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its stake in shares of Exelixis by 232.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 728 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Exelixis in the first quarter valued at approximately $28,000. Park Place Capital Corp acquired a new stake in Exelixis during the second quarter worth approximately $45,000. GAMMA Investing LLC grew its position in Exelixis by 107.9% during the second 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 in 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 worth $49,000 after acquiring an additional 1,746 shares during the period. Institutional investors 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.