Exelixis’ (EXEL) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research note published on Thursday morning,Benzinga reports. The firm currently has a $40.00 price objective on the biotechnology company’s stock.

Other analysts have also issued reports about the stock. Wells Fargo & Company lowered shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective on the stock. in a research report on Monday, February 24th. UBS Group increased their price target on Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Guggenheim restated a “buy” rating and set a $42.00 price objective on shares of Exelixis in a report on Wednesday, February 12th. Oppenheimer downgraded Exelixis from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $41.00 to $33.00 in a research report on Friday, January 24th. Finally, Barclays boosted their price objective on shares of Exelixis from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.59.

Exelixis Stock Performance

Shares of Exelixis stock opened at $36.70 on Thursday. The stock has a 50 day moving average price of $35.71 and a 200-day moving average price of $33.27. Exelixis has a one year low of $20.14 and a one year high of $40.02. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. Sell-side analysts predict that Exelixis will post 2.04 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.80, for a total transaction of $388,000.00. Following the completion of the transaction, the executive vice president now owns 341,028 shares in the company, valued at approximately $13,231,886.40. This trade represents a 2.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mary C. Beckerle sold 12,210 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $34.88, for a total value of $425,884.80. Following the completion of the sale, the director now owns 30,406 shares in the company, valued at $1,060,561.28. The trade was a 28.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,343 shares of company stock worth $5,177,234 over the last quarter. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Coppell Advisory Solutions LLC purchased a new position in shares of Exelixis during the 4th quarter valued at approximately $25,000. Colonial Trust Co SC grew its position in Exelixis by 616.9% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 765 shares during the period. USA Financial Formulas purchased a new position in Exelixis in the fourth quarter valued at $32,000. Principal Securities Inc. raised its position in shares of Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 373 shares during the period. Finally, Kestra Investment Management LLC purchased a new stake in shares of Exelixis during the 4th quarter worth about $39,000. 85.27% of the stock is owned by institutional investors and hedge funds.

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.