Royal Bank Of Canada Issues Pessimistic Forecast for Exelixis (NASDAQ:EXEL) Stock Price

Exelixis (NASDAQ:EXEL) had its price target cut by equities researchers at Royal Bank Of Canada from $46.00 to $43.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the biotechnology company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 5.95% from the stock’s previous close.

EXEL has been the subject of a number of other reports. Truist Financial set a $51.00 price objective on Exelixis in a research note on Wednesday, January 14th. Oppenheimer reiterated a “market perform” rating and issued a $36.00 price target on shares of Exelixis in a research report on Wednesday, November 5th. HC Wainwright raised their price objective on shares of Exelixis from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Zacks Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Finally, Wells Fargo & Company increased their price target on Exelixis from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Exelixis currently has an average rating of “Hold” and an average price target of $46.94.

Exelixis Price Performance

Shares of NASDAQ:EXEL traded down $3.47 during trading on Monday, hitting $40.59. The company’s stock had a trading volume of 3,660,700 shares, compared to its average volume of 2,708,818. The firm has a market cap of $10.54 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 0.99 and a beta of 0.41. The company has a 50-day moving average of $44.09 and a 200-day moving average of $41.48. Exelixis has a 12 month low of $32.38 and a 12 month high of $49.62.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. The firm had revenue of $598.66 million during the quarter, compared to the consensus estimate of $609.17 million. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. As a group, research analysts anticipate that Exelixis will post 2.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jack L. Wyszomierski sold 99,574 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the sale, the director directly owned 279,942 shares of the company’s stock, valued at $12,320,247.42. This represents a 26.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dana Aftab sold 47,918 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the completion of the sale, the executive vice president owned 616,106 shares in the company, valued at $27,416,717. This represents a 7.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 362,849 shares of company stock worth $15,917,463. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several large investors have recently added to or reduced their stakes in EXEL. Motiv8 Investments LLC purchased a new position in shares of Exelixis in the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. boosted its stake in Exelixis by 95.1% during the third quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock worth $25,000 after buying an additional 292 shares during the period. Anchor Investment Management LLC increased its position in Exelixis by 500.0% during the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 500 shares during the last quarter. Acumen Wealth Advisors LLC purchased a new stake in shares of Exelixis in the fourth quarter valued at $29,000. Finally, Root Financial Partners LLC bought a new stake in shares of Exelixis in the 3rd quarter worth about $28,000. 85.27% of the stock is owned by institutional investors.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.