Exelixis (NASDAQ:EXEL) Receives “Equal Weight” Rating from Stephens

Exelixis (NASDAQ:EXEL)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Stephens in a report released on Monday,Benzinga reports. They currently have a $29.00 target price on the biotechnology company’s stock. Stephens’ target price would suggest a potential downside of 11.04% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus increased their target price on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. HC Wainwright reiterated a “buy” rating and set a $40.00 price objective on shares of Exelixis in a research note on Monday. Oppenheimer downgraded Exelixis from an “outperform” rating to a “market perform” rating and cut their target price for the company from $41.00 to $33.00 in a research report on Friday, January 24th. TD Cowen lifted their price target on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, BMO Capital Markets lowered Exelixis from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $36.00 to $40.00 in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.06.

Exelixis Stock Down 0.4 %

EXEL stock opened at $32.60 on Monday. The firm’s fifty day simple moving average is $34.80 and its two-hundred day simple moving average is $29.96. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. Exelixis has a twelve month low of $20.01 and a twelve month high of $37.59.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. As a group, equities research analysts expect that Exelixis will post 1.74 EPS for the current year.

Insider Buying and Selling

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dana Aftab sold 96,986 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the transaction, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $17,463,075. The trade was a 16.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,574 shares of company stock valued at $10,102,874. 2.85% of the stock is owned by company insiders.

Institutional Trading of Exelixis

Institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Exelixis in the 3rd quarter valued at $30,000. USA Financial Formulas acquired a new position in Exelixis during the fourth quarter worth about $32,000. Brooklyn Investment Group purchased a new stake in Exelixis during the 3rd quarter valued at about $42,000. UMB Bank n.a. raised its holdings in Exelixis by 68.4% in the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 553 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Exelixis in the 3rd quarter worth approximately $61,000. 85.27% of the stock is owned by institutional investors and hedge funds.

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.