Exelixis, Inc. (NASDAQ:EXEL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Exelixis, Inc. (NASDAQ:EXEL) have received a consensus recommendation of “Moderate Buy” from the twenty analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $31.44.

Several research analysts have weighed in on EXEL shares. Piper Sandler boosted their price objective on Exelixis from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Stifel Nicolaus boosted their price target on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a research report on Wednesday, October 30th. TD Cowen increased their target price on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Truist Financial upped their price objective on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th.

Insider Transactions at Exelixis

In other news, EVP Patrick J. Haley sold 41,588 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the transaction, the executive vice president now directly owns 288,665 shares of the company’s stock, valued at approximately $9,918,529.40. This trade represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.79, for a total value 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. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 289,736 shares of company stock valued at $9,471,510 in the last quarter. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Exelixis in the third quarter valued at $30,000. Brooklyn Investment Group bought a new position in shares of Exelixis in the 3rd quarter worth about $42,000. Park Place Capital Corp purchased a new position in Exelixis during the 2nd quarter valued at about $45,000. GAMMA Investing LLC boosted its stake 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 acquiring an additional 1,041 shares in the last quarter. Finally, EntryPoint Capital LLC increased its stake in shares of Exelixis by 537.2% during the first 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. Institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

EXEL opened at $34.65 on Friday. The firm’s fifty day moving average price is $29.55 and its two-hundred day moving average price is $25.41. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 0.88 and a beta of 0.51. Exelixis has a 1 year low of $19.20 and a 1 year high of $36.60.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. During the same quarter last year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts anticipate that Exelixis will post 1.68 EPS for the current year.

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.