Exelixis, Inc. (NASDAQ:EXEL) Receives $47.93 Average PT from Analysts

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been given an average rating of “Hold” by the twenty research firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $48.80.

Several brokerages have issued reports on EXEL. Morgan Stanley reiterated a “positive” rating on shares of Exelixis in a research report on Monday, June 22nd. UBS Group restated a “buy” rating on shares of Exelixis in a report on Thursday, July 2nd. Truist Financial raised their target price on Exelixis from $54.00 to $56.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. HC Wainwright reaffirmed a “buy” rating and issued a $56.00 price target on shares of Exelixis in a report on Thursday, July 2nd. Finally, TD Cowen upped their price target on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th.

Exelixis Trading Down 0.4%

Shares of Exelixis stock opened at $55.55 on Thursday. The stock has a market capitalization of $13.96 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 1.61 and a beta of 0.42. The firm’s 50-day moving average price is $52.30 and its two-hundred day moving average price is $46.66. Exelixis has a 1-year low of $33.76 and a 1-year high of $57.57.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. The company had revenue of $610.81 million during the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. Exelixis’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. As a group, equities research analysts predict that Exelixis will post 3.16 EPS for the current year.

Insider Buying and Selling

In other Exelixis news, Director Maria C. Freire sold 20,634 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $46.00, for a total value of $949,164.00. Following the completion of the transaction, the director directly owned 100,819 shares of the company’s stock, valued at approximately $4,637,674. The trade was a 16.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George Poste sold 60,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $45.71, for a total transaction of $2,742,600.00. Following the sale, the director directly owned 118,832 shares in the company, valued at $5,431,810.72. This trade represents a 33.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 219,170 shares of company stock valued at $10,620,641. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Anchor Investment Management LLC increased its stake in shares of Exelixis by 500.0% in the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 500 shares during the period. Motiv8 Investments LLC acquired a new position in shares of Exelixis during the fourth quarter valued at $26,000. Cassaday & Co Wealth Management LLC bought a new position in Exelixis in the first quarter valued at about $27,000. Western Wealth Management LLC bought a new position in Exelixis in the first quarter valued at about $29,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in Exelixis in the fourth quarter worth about $29,000. 85.27% of the stock is currently 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.