Exelixis, Inc. (NASDAQ:EXEL) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been given an average recommendation of “Hold” by the twenty ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $50.0667.

Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, July 13th. TD Cowen increased their price target on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Truist Financial decreased their price target on Exelixis from $56.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, August 6th. Stifel Nicolaus boosted their price target on Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada upped their price objective on Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th.

Insiders Place Their Bets

In other news, Director Jack L. Wyszomierski sold 3,925 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.55, for a total transaction of $198,408.75. Following the transaction, the director directly owned 284,384 shares in the company, valued at $14,375,611.20. The trade was a 1.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue Gail Eckhardt sold 9,812 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $50.14, for a total transaction of $491,973.68. Following the completion of the sale, the director directly owned 16,079 shares in the company, valued at approximately $806,201.06. The trade was a 37.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 23,549 shares of company stock valued at $1,216,894. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exelixis

A number of hedge funds and other institutional investors have recently bought and sold shares of EXEL. BlackRock Inc. bought a new position in shares of Exelixis during the 2nd quarter worth approximately $1,581,991,000. California State Teachers Retirement System boosted its holdings in shares of Exelixis by 4,875.6% during the 2nd quarter. California State Teachers Retirement System now owns 14,785,373 shares of the biotechnology company’s stock worth $804,472,000 after buying an additional 14,488,217 shares during the period. AQR Capital Management LLC grew its position in shares of Exelixis by 48.8% in the fourth quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after purchasing an additional 4,477,029 shares during the last quarter. Invesco Ltd. grew its holdings in Exelixis by 1.6% in the 4th quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock valued at $265,379,000 after buying an additional 94,218 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Exelixis by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock valued at $184,391,000 after acquiring an additional 39,920 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Exelixis Stock Down 1.5%

Shares of EXEL stock opened at $55.26 on Friday. The company’s fifty day simple moving average is $54.52 and its 200-day simple moving average is $48.96. The firm has a market cap of $13.69 billion, a PE ratio of 17.38, a P/E/G ratio of 1.67 and a beta of 0.44. Exelixis has a 12 month low of $33.76 and a 12 month high of $57.57.

Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business had revenue of $628.69 million during the quarter, compared to the consensus estimate of $636.40 million. During the same quarter last year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts predict that Exelixis will post 3.18 earnings per share for the current fiscal year.

About Exelixis

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.