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

Exelixis, Inc. (NASDAQ:EXEL) has been given an average rating of “Moderate Buy” by the twenty analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $31.44.

EXEL has been the topic of a number of research reports. Stephens raised their target price on shares of Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Truist Financial boosted their price objective on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Bank of America increased their target price on Exelixis from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company boosted their price target on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, JMP Securities reiterated a “market outperform” rating and set a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th.

Exelixis Stock Down 1.7 %

EXEL stock opened at $34.45 on Friday. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 0.89 and a beta of 0.51. The business has a fifty day simple moving average of $29.04 and a 200-day simple moving average of $25.14. Exelixis has a 52 week low of $19.20 and a 52 week high of $36.60.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $539.50 million during the quarter, compared to analyst estimates of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, analysts expect that Exelixis will post 1.68 earnings per share for the current fiscal year.

Insider Activity

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of Exelixis stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total value of $36,486.80. Following the completion of the transaction, the executive vice president now directly owns 498,945 shares in the company, valued at $15,666,873. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey Hessekiel sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $34.13, for a total value of $1,706,500.00. Following the transaction, the executive vice president now directly owns 530,325 shares of the company’s stock, valued at $18,099,992.25. This trade represents a 8.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 248,148 shares of company stock worth $8,042,547. 2.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exelixis

A number of hedge funds have recently added to or reduced their stakes in the stock. Vestcor Inc grew its position in shares of Exelixis by 1.2% during the third quarter. Vestcor Inc now owns 59,789 shares of the biotechnology company’s stock worth $1,552,000 after acquiring an additional 722 shares during the last quarter. M&T Bank Corp boosted its stake in Exelixis by 12.7% during the 3rd quarter. M&T Bank Corp now owns 14,433 shares of the biotechnology company’s stock valued at $374,000 after purchasing an additional 1,621 shares during the period. MML Investors Services LLC grew its position in Exelixis by 9.9% in the 3rd quarter. MML Investors Services LLC now owns 22,958 shares of the biotechnology company’s stock worth $596,000 after purchasing an additional 2,077 shares during the last quarter. EP Wealth Advisors LLC bought a new position in Exelixis in the 3rd quarter worth about $306,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of Exelixis in the third quarter valued at approximately $421,000. 85.27% of the stock is currently owned by institutional investors.

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.