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

Exelixis, Inc. (NASDAQ:EXEL) has received a consensus recommendation of “Hold” from the twenty-three analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, nine 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 updated their coverage on the stock in the last year is $47.3529.

EXEL has been the topic of several research analyst reports. HC Wainwright increased their price objective on Exelixis from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Barclays increased their price objective on Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. TD Cowen upped their target price on Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Truist Financial upgraded Exelixis to a “strong-buy” rating in a report on Monday, April 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a report on Tuesday, May 19th.

Exelixis Stock Down 0.7%

Shares of NASDAQ:EXEL opened at $53.13 on Friday. Exelixis has a 52-week low of $33.76 and a 52-week high of $53.93. The stock has a market cap of $13.35 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.53 and a beta of 0.41. The business’s 50 day moving average is $47.98 and its 200 day moving average is $44.89.

Exelixis (NASDAQ:EXEL) last announced 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. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Exelixis’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Exelixis will post 3.16 EPS for the current fiscal year.

Insider Activity at Exelixis

In other Exelixis news, EVP Dana Aftab sold 43,451 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the completion of the sale, the executive vice president owned 594,741 shares in the company, valued at $29,945,209.35. This represents a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Haley sold 32,110 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total value of $1,599,399.10. Following the sale, the executive vice president owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. This represents a 8.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 219,170 shares of company stock valued at $10,620,641 over the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Trading of Exelixis

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Exelixis by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company’s stock valued at $2,549,000 after purchasing an additional 281 shares during the last quarter. RHS Financial LLC raised its stake in Exelixis by 2.4% in the 4th quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company’s stock worth $553,000 after acquiring an additional 293 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in Exelixis by 5.8% in the 4th quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock worth $237,000 after acquiring an additional 298 shares during the last quarter. Cim LLC raised its stake in Exelixis by 0.9% in the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after acquiring an additional 305 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in Exelixis by 6.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company’s stock worth $235,000 after acquiring an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.