Exelixis (NASDAQ:EXEL) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Exelixis (NASDAQ:EXEL) to a strong sell rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

EXEL has been the subject of a number of other reports. JMP Securities reiterated a “market outperform” rating and set a $29.00 price objective on shares of Exelixis in a research report on Friday, October 11th. Truist Financial reiterated a “buy” rating and set a $33.00 price objective (up from $32.00) on shares of Exelixis in a research report on Thursday, August 8th. Bank of America upped their price objective on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. Finally, Oppenheimer reissued an “outperform” rating and set a $29.00 target price on shares of Exelixis in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.07.

Exelixis Trading Down 0.6 %

Shares of NASDAQ:EXEL opened at $28.90 on Tuesday. The firm has a 50 day moving average of $26.42 and a 200-day moving average of $23.83. The stock has a market capitalization of $8.76 billion, a PE ratio of 45.16, a PEG ratio of 0.54 and a beta of 0.54. Exelixis has a 12 month low of $18.64 and a 12 month high of $29.75.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.31 by $0.44. The company had revenue of $637.18 million during 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%. On average, research analysts predict that Exelixis will post 1.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the sale, the director now directly owns 91,007 shares in the company, valued at approximately $2,417,145.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Exelixis news, Director Maria C. Freire sold 8,250 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $26.56, for a total value of $219,120.00. Following the completion of the sale, the director now directly owns 91,007 shares in the company, valued at approximately $2,417,145.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher J. Senner sold 125,000 shares of Exelixis 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 transaction, the chief financial officer now owns 721,680 shares of the company’s stock, valued at $19,622,479.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,858 shares of company stock worth $8,640,129. 2.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Fisher Asset Management LLC grew its holdings in shares of Exelixis by 232.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 728 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Exelixis during the first quarter valued at about $28,000. V Square Quantitative Management LLC bought a new position in shares of Exelixis during the third quarter valued at about $30,000. Park Place Capital Corp bought a new position in shares of Exelixis during the second quarter valued at about $45,000. Finally, GAMMA Investing LLC lifted its position in shares of Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 1,041 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.