Exelixis (NASDAQ:EXEL) Stock Rating Upgraded by Wall Street Zen

Exelixis (NASDAQ:EXEL) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently commented on EXEL. Royal Bank Of Canada decreased their target price on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Morgan Stanley boosted their price target on Exelixis from $48.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Citigroup cut Exelixis from a “market outperform” rating to an “underperform” rating in a research report on Monday, January 5th. Stifel Nicolaus raised their price objective on Exelixis from $43.00 to $44.00 and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Finally, UBS Group set a $41.00 price objective on Exelixis in a research report on Monday, January 5th. Ten investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Exelixis presently has a consensus rating of “Hold” and an average target price of $46.94.

Exelixis Trading Up 0.2%

Shares of NASDAQ EXEL opened at $41.24 on Friday. Exelixis has a 12-month low of $32.38 and a 12-month high of $49.62. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.93 and a beta of 0.41. The firm has a 50 day moving average of $43.31 and a 200 day moving average of $41.71.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.20. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The business had revenue of $598.66 million for the quarter, compared to the consensus estimate of $609.17 million. During the same period last year, the firm earned $0.55 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts predict that Exelixis will post 2.04 EPS for the current year.

Insider Buying and Selling at Exelixis

In other news, EVP Patrick J. Haley sold 67,814 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $43.52, for a total transaction of $2,951,265.28. Following the sale, the executive vice president directly owned 381,908 shares in the company, valued at approximately $16,620,636.16. This represents a 15.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack L. Wyszomierski sold 99,574 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the completion of the transaction, the director directly owned 279,942 shares of the company’s stock, valued at approximately $12,320,247.42. The trade was a 26.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 362,849 shares of company stock valued at $15,917,463 over the last ninety days. Corporate 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 the stock. Richardson Financial Services Inc. lifted its stake in shares of Exelixis by 95.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. Anchor Investment Management LLC increased its position in shares of Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in Exelixis during the 4th quarter valued at $26,000. Root Financial Partners LLC bought a new stake in Exelixis in the third quarter worth $28,000. Finally, Acumen Wealth Advisors LLC bought a new stake in Exelixis in the fourth quarter worth $29,000. 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.