Exelixis (NASDAQ:EXEL) Earns Neutral Rating from Analysts at UBS Group

Stock analysts at UBS Group started coverage on shares of Exelixis (NASDAQ:EXEL) in a report released on Thursday, Briefing.com reports. The firm set a “neutral” rating and a $30.00 price target on the biotechnology company’s stock. UBS Group’s price target suggests a potential upside of 11.86% from the company’s current price.

Several other research analysts have also weighed in on the stock. StockNews.com upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $29.00 price objective on shares of Exelixis in a report on Tuesday, July 30th. JMP Securities upped their price objective on shares of Exelixis from $27.00 to $29.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 7th. Finally, Truist Financial reiterated a “buy” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Exelixis Trading Down 2.8 %

Shares of EXEL stock opened at $26.82 on Thursday. The stock has a fifty day simple moving average of $24.94 and a two-hundred day simple moving average of $23.26. Exelixis has a twelve month low of $18.64 and a twelve month high of $27.83. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 41.91, a P/E/G ratio of 0.58 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The company had revenue of $637.18 million during the quarter, compared to the consensus estimate of $468.21 million. Research analysts predict that Exelixis will post 1.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were 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 owns 520,990 shares in the company, valued at $13,024,750. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Dana Aftab sold 95,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were 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 in the company, valued at approximately $13,024,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 20,000 shares of the business’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 value of $515,800.00. Following the transaction, the executive vice president now directly owns 630,325 shares in the company, valued at approximately $16,256,081.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 302,858 shares of company stock worth $7,980,629. Insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several institutional investors and hedge funds have recently modified their holdings of EXEL. Sanctuary Advisors LLC acquired a new stake in Exelixis during the 2nd quarter worth approximately $652,000. Creative Planning raised its stake in Exelixis by 0.8% in the 2nd quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock worth $1,611,000 after purchasing an additional 548 shares in the last quarter. Algert Global LLC boosted its holdings in Exelixis by 7.6% in the 2nd quarter. Algert Global LLC now owns 276,352 shares of the biotechnology company’s stock valued at $6,210,000 after purchasing an additional 19,559 shares during the period. Mackenzie Financial Corp grew its position in shares of Exelixis by 62.1% during the 2nd quarter. Mackenzie Financial Corp now owns 433,311 shares of the biotechnology company’s stock worth $9,736,000 after purchasing an additional 166,057 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C increased its holdings in shares of Exelixis by 137.1% during the second quarter. Deerfield Management Company L.P. Series C now owns 20,816 shares of the biotechnology company’s stock worth $468,000 after purchasing an additional 12,036 shares during the period. 85.27% of the stock is currently 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.