Exelixis, Inc. (NASDAQ:EXEL) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Exelixis, Inc. (NASDAQ:EXEL) have received a consensus recommendation of “Moderate Buy” from the twenty-five ratings firms that are currently covering the firm, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $44.5263.

A number of equities research analysts recently weighed in on the company. HC Wainwright decreased their target price on Exelixis from $53.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Leerink Partners raised Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research report on Tuesday, October 21st. Guggenheim reaffirmed a “buy” rating and issued a $45.00 target price on shares of Exelixis in a research report on Tuesday, July 29th. Stifel Nicolaus raised their target price on Exelixis from $38.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, July 29th. Finally, Wells Fargo & Company reduced their target price on Exelixis from $36.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Belpointe Asset Management LLC bought a new position in shares of Exelixis in the first quarter worth about $572,000. GAMMA Investing LLC increased its holdings in shares of Exelixis by 32.2% in the first quarter. GAMMA Investing LLC now owns 5,457 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 1,328 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Exelixis by 23.9% in the first quarter. Envestnet Asset Management Inc. now owns 248,073 shares of the biotechnology company’s stock valued at $9,159,000 after purchasing an additional 47,845 shares in the last quarter. Fortis Capital Advisors LLC bought a new position in Exelixis in the 1st quarter worth approximately $572,000. Finally, Intech Investment Management LLC lifted its holdings in Exelixis by 46.4% during the 1st quarter. Intech Investment Management LLC now owns 392,022 shares of the biotechnology company’s stock worth $14,473,000 after buying an additional 124,297 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Trading Down 0.7%

EXEL opened at $38.67 on Friday. Exelixis has a 1-year low of $31.90 and a 1-year high of $49.62. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 0.79 and a beta of 0.38. The business has a 50 day moving average of $38.81 and a 200-day moving average of $40.23.

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.