Exelixis (NASDAQ:EXEL) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Exelixis (NASDAQ:EXEL – Get Rating) in a report issued on Thursday morning. The firm issued a buy rating on the biotechnology company’s stock.

Other research analysts have also recently issued reports about the company. Cowen reduced their price objective on Exelixis from $21.00 to $20.00 in a research report on Monday, January 9th. Truist Financial reduced their price objective on Exelixis from $35.00 to $32.00 in a research report on Friday, December 9th. Wells Fargo & Company assumed coverage on Exelixis in a research report on Thursday, March 9th. They set an overweight rating and a $23.00 price objective for the company. Credit Suisse Group assumed coverage on Exelixis in a research report on Thursday, January 26th. They set an outperform rating and a $29.00 price objective for the company. Finally, EF Hutton Acquisition Co. I reaffirmed a buy rating and set a $24.00 price objective on shares of Exelixis in a research report on Friday, March 3rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $26.00.

Exelixis Price Performance

Shares of Exelixis stock traded down $0.14 during trading hours on Thursday, hitting $17.55. The company’s stock had a trading volume of 5,254,598 shares, compared to its average volume of 3,491,704. Exelixis has a 12 month low of $14.87 and a 12 month high of $23.40. The stock has a 50 day moving average of $17.20 and a 200 day moving average of $16.75. The company has a market capitalization of $5.69 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69.

Exelixis (NASDAQ:EXEL – Get Rating) last announced its quarterly earnings results on Tuesday, February 7th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). Exelixis had a return on equity of 7.54% and a net margin of 11.31%. The business had revenue of $423.92 million during the quarter, compared to the consensus estimate of $418.71 million. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue was down 6.0% compared to the same quarter last year. Equities analysts expect that Exelixis will post 0.67 EPS for the current year.

Insider Activity at Exelixis

In other news, EVP Patrick J. Haley sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $17.37, for a total value of $434,250.00. Following the completion of the sale, the executive vice president now directly owns 254,414 shares of the company’s stock, valued at $4,419,171.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Jack L. Wyszomierski sold 15,300 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $16.61, for a total value of $254,133.00. Following the completion of the sale, the director now directly owns 317,467 shares of the company’s stock, valued at $5,273,126.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Patrick J. Haley sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $17.37, for a total value of $434,250.00. Following the completion of the sale, the executive vice president now directly owns 254,414 shares of the company’s stock, valued at $4,419,171.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,170 shares of company stock valued at $3,433,100. Insiders own 2.90% of the company’s stock.

Institutional Trading of Exelixis

A number of hedge funds have recently made changes to their positions in EXEL. Covestor Ltd increased its stake in shares of Exelixis by 245.6% during the first quarter. Covestor Ltd now owns 1,676 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 1,191 shares during the period. Signaturefd LLC increased its stake in shares of Exelixis by 400.7% during the third quarter. Signaturefd LLC now owns 2,148 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 1,719 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Exelixis by 129.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,697 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 1,521 shares during the period. Wipfli Financial Advisors LLC bought a new position in shares of Exelixis during the third quarter worth approximately $46,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Exelixis during the third quarter worth approximately $47,000. 84.74% of the stock is owned by institutional investors and hedge funds.

Exelixis Company Profile

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Exelixis, Inc operates as an oncology company, which focuses on discovering, developing, and commercialization of new medicines for difficult-to-treat cancers. Its products include cabometyx, cometriq, and cotellic. The company was founded by Stelios Papadopoulos on November 15, 1994, and is headquartered in Alameda, CA.