Exelixis, Inc. (NASDAQ:EXEL) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Exelixis, Inc. (NASDAQ:EXEL) have earned an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $31.47.

EXEL has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their price objective on Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. UBS Group initiated coverage on shares of Exelixis in a report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 price objective for the company. Piper Sandler raised their price objective on shares of Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price target on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th.

Exelixis Price Performance

Shares of EXEL opened at $35.03 on Wednesday. Exelixis has a 12 month low of $19.20 and a 12 month high of $36.97. The stock has a fifty day moving average price of $32.66 and a 200 day moving average price of $27.18. The company has a market cap of $10.00 billion, a P/E ratio of 22.46, a PEG ratio of 0.89 and a beta of 0.52.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. As a group, research analysts anticipate that Exelixis will post 1.69 earnings per share for the current year.

Insider Transactions at Exelixis

In other news, EVP Dana Aftab sold 1,162 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at $15,666,873. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 339,736 shares of company stock valued at $11,508,610 over the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Exelixis during the 3rd quarter worth about $30,000. Brooklyn Investment Group acquired a new position in Exelixis in the third quarter worth approximately $42,000. Capital Performance Advisors LLP acquired a new position in Exelixis in the third quarter worth approximately $61,000. Essex Investment Management Co. LLC bought a new position in Exelixis during the third quarter valued at approximately $74,000. Finally, GAMMA Investing LLC lifted its stake in Exelixis by 50.0% in the third quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock valued at $78,000 after acquiring an additional 1,004 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

About Exelixis

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.