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

Exelixis, Inc. (NASDAQ:EXEL) has been assigned a consensus recommendation of “Hold” from the twenty analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $47.9333.

Several research firms have issued reports on EXEL. Wells Fargo & Company increased their price objective on shares of Exelixis from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Morgan Stanley restated a “positive” rating on shares of Exelixis in a report on Monday, June 22nd. Royal Bank Of Canada raised their price target on shares of Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday. Citizens Jmp raised their price objective on Exelixis from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Wednesday, June 24th. Finally, Barclays boosted their target price on Exelixis from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th.

Exelixis Stock Performance

Shares of Exelixis stock opened at $56.11 on Thursday. The firm has a 50-day simple moving average of $51.22 and a two-hundred day simple moving average of $46.30. The company has a market cap of $14.10 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 1.65 and a beta of 0.42. Exelixis has a fifty-two week low of $33.76 and a fifty-two week high of $57.57.

Exelixis (NASDAQ:EXEL) last posted its earnings results 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 business had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 EPS. Equities research analysts forecast that Exelixis will post 3.16 EPS for the current year.

Insider Activity at Exelixis

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

Hedge Funds Weigh In On Exelixis

Institutional investors have recently added to or reduced their stakes in the stock. Motiv8 Investments LLC acquired a new position in shares of Exelixis in the fourth quarter valued at approximately $26,000. Anchor Investment Management LLC lifted its holdings in Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 500 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in Exelixis during the first quarter worth about $27,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Exelixis in the 4th quarter worth approximately $29,000. Finally, Western Wealth Management LLC purchased a new position in shares of Exelixis in the first quarter valued at $29,000. Institutional investors and hedge funds 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.