Exelixis, Inc. (NASDAQ:EXEL) Receives Consensus Rating of “Hold” from Analysts

Exelixis, Inc. (NASDAQ:EXEL) has been assigned an average recommendation of “Hold” from the twenty-three analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $47.3529.

EXEL has been the subject of several research reports. Morgan Stanley raised their price objective on shares of Exelixis from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Zacks Research downgraded shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Wall Street Zen upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada cut their price objective on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd.

Insider Activity at Exelixis

In other news, Director George Poste sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $45.71, for a total transaction of $2,742,600.00. Following the transaction, the director directly owned 118,832 shares of the company’s stock, valued at approximately $5,431,810.72. This trade represents a 33.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary C. Beckerle sold 7,712 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $48.45, for a total transaction of $373,646.40. Following the transaction, the director directly owned 17,524 shares in the company, valued at $849,037.80. This represents a 30.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 207,663 shares of company stock valued at $9,600,320. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Anchor Investment Management LLC increased its holdings in shares of Exelixis by 500.0% during the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 500 shares during the period. Motiv8 Investments LLC bought a new position in shares of Exelixis during the fourth quarter worth approximately $26,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Exelixis during the first quarter worth approximately $27,000. Root Financial Partners LLC bought a new position in shares of Exelixis during the third quarter worth approximately $28,000. Finally, Western Wealth Management LLC bought a new position in shares of Exelixis during the first quarter worth approximately $29,000. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Down 2.3%

Shares of EXEL stock opened at $48.67 on Wednesday. The firm has a 50 day moving average price of $44.62 and a two-hundred day moving average price of $43.64. The company has a market capitalization of $12.23 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.05 and a beta of 0.38. Exelixis has a 12-month low of $33.76 and a 12-month high of $51.63.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.12. The firm had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. As a group, research analysts expect that Exelixis will post 3.15 EPS for the current year.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.