Exelixis (NASDAQ:EXEL) Earns “Buy” Rating from HC Wainwright

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating restated by HC Wainwright in a report issued on Thursday,Benzinga reports. They presently have a $40.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 21.95% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Truist Financial upped their price objective on shares of Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 27th. Guggenheim reissued a “buy” rating and issued a $42.00 price objective on shares of Exelixis in a report on Wednesday. Stifel Nicolaus lifted their target price on Exelixis from $30.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday. Bank of America lowered Exelixis from a “buy” rating to a “neutral” rating and upped their target price for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. Finally, Stephens reissued an “equal weight” rating and set a $29.00 price target on shares of Exelixis in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Exelixis Stock Down 0.0 %

NASDAQ EXEL opened at $32.80 on Thursday. Exelixis has a 52 week low of $20.14 and a 52 week high of $37.59. The company has a 50 day moving average price of $34.24 and a 200 day moving average price of $30.72. The firm has a market cap of $9.37 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. On average, equities research analysts anticipate that Exelixis will post 1.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In other news, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Haley sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the transaction, the executive vice president now directly owns 278,665 shares in the company, valued at $9,828,514.55. This represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,588 shares of company stock valued at $3,981,864. Company insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Large investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in shares of Exelixis in the third quarter valued at approximately $30,000. USA Financial Formulas purchased a new position in Exelixis in the 4th quarter valued at $32,000. Principal Securities Inc. boosted its stake in Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 373 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Exelixis during the 4th quarter worth $39,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Exelixis during the third quarter worth $42,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.