Exelixis, Inc. (NASDAQ:EXEL) Given Consensus Rating of “Moderate Buy” by Brokerages

Exelixis, Inc. (NASDAQ:EXEL) has received a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $32.44.

EXEL has been the subject of a number of analyst reports. Stephens boosted their price objective on Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. HC Wainwright reiterated a “buy” rating and set a $29.00 price target on shares of Exelixis in a report on Wednesday, September 18th. JMP Securities reaffirmed a “market outperform” rating and set a $29.00 price objective on shares of Exelixis in a research report on Friday, October 11th. Piper Sandler increased their target price on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets downgraded Exelixis from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $36.00 to $40.00 in a report on Friday, December 20th.

Insiders Place Their Bets

In other news, EVP Dana Aftab sold 96,986 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total value of $3,394,510.00. Following the completion of the sale, the executive vice president now owns 498,945 shares in the company, valued at approximately $17,463,075. This trade represents a 16.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey Hessekiel sold 50,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $34.13, for a total transaction of $1,706,500.00. Following the transaction, the executive vice president now owns 530,325 shares in the company, valued at approximately $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 314,736 shares of company stock valued at $10,849,110. 2.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EXEL. Everence Capital Management Inc. purchased a new stake in shares of Exelixis during the 4th quarter worth $271,000. GAMMA Investing LLC lifted its stake in shares of Exelixis by 37.2% in the fourth quarter. GAMMA Investing LLC now owns 4,129 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 1,119 shares during the period. Retirement Systems of Alabama lifted its stake in shares of Exelixis by 24.6% in the third quarter. Retirement Systems of Alabama now owns 911,497 shares of the biotechnology company’s stock valued at $23,653,000 after purchasing an additional 180,021 shares during the period. Tri Ri Asset Management Corp purchased a new stake in Exelixis during the third quarter worth about $4,396,000. Finally, Tidal Investments LLC grew its position in Exelixis by 2.3% during the third quarter. Tidal Investments LLC now owns 36,366 shares of the biotechnology company’s stock worth $944,000 after buying an additional 823 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Stock Up 0.1 %

Shares of EXEL opened at $33.97 on Friday. The company has a market cap of $9.70 billion, a P/E ratio of 21.78, a PEG ratio of 0.89 and a beta of 0.52. Exelixis has a fifty-two week low of $19.20 and a fifty-two week high of $36.97. The firm’s 50 day moving average price is $34.57 and its 200 day moving average price is $28.41.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $539.50 million for 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 company’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. Research analysts forecast that Exelixis will post 1.69 earnings per share for the current year.

Exelixis Company Profile

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.