Exelixis (NASDAQ:EXEL) Stock Rating Lowered by Oppenheimer

Exelixis (NASDAQ:EXEL) was downgraded by equities research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued on Friday, Marketbeat Ratings reports. They presently have a $33.00 target price on the biotechnology company’s stock, down from their prior target price of $41.00. Oppenheimer’s price objective indicates a potential upside of 1.91% from the company’s current price.

Several other analysts also recently commented on EXEL. BMO Capital Markets downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $36.00 to $40.00 in a report on Friday, December 20th. Piper Sandler upped their target price on Exelixis from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. JMP Securities reissued a “market outperform” rating and set a $41.00 price target on shares of Exelixis in a report on Thursday. Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and upped their price objective for the company from $35.00 to $39.00 in a report on Tuesday, December 17th. Finally, Truist Financial lifted their target price on Exelixis from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Exelixis Trading Down 5.1 %

Shares of EXEL opened at $32.38 on Friday. Exelixis has a 1-year low of $20.01 and a 1-year high of $37.59. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 0.72 and a beta of 0.53. The company’s fifty day simple moving average is $34.87 and its 200 day simple moving average is $29.77.

Exelixis (NASDAQ:EXEL) last issued its 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. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same period in the previous year, the company posted $0.10 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, research analysts forecast that Exelixis will post 1.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $28.39, for a total value of $709,750.00. Following the completion of the transaction, the executive vice president now owns 580,325 shares of the company’s stock, valued at $16,475,426.75. This represents a 4.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $36,486.80. Following the sale, the executive vice president now owns 498,945 shares in the company, valued at approximately $15,666,873. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 314,736 shares of company stock valued at $10,849,110. 2.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EXEL. Hsbc Holdings PLC boosted its holdings in Exelixis by 45.3% in the second quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock valued at $2,031,000 after acquiring an additional 28,126 shares during the last quarter. XTX Topco Ltd bought a new stake in Exelixis during the second quarter valued at $309,000. Pacer Advisors Inc. grew its holdings in Exelixis by 4.3% during the 2nd quarter. Pacer Advisors Inc. now owns 67,740 shares of the biotechnology company’s stock worth $1,522,000 after acquiring an additional 2,813 shares during the period. Marshall Wace LLP bought a new position in shares of Exelixis in the 2nd quarter worth about $801,000. Finally, Squarepoint Ops LLC lifted its stake in shares of Exelixis by 242.8% in the 2nd quarter. Squarepoint Ops LLC now owns 89,449 shares of the biotechnology company’s stock valued at $2,010,000 after purchasing an additional 63,352 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.

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.