Exelixis’ (EXEL) “Buy” Rating Reiterated at HC Wainwright

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They currently have a $40.00 price target on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 8.08% from the company’s current price.

Several other research analysts have also weighed in on the company. Citigroup upped their price target on Exelixis from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. BMO Capital Markets lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $36.00 to $40.00 in a research report on Friday, December 20th. Truist Financial boosted their price objective on shares of Exelixis from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Oppenheimer lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $41.00 to $33.00 in a research note on Friday, January 24th. Finally, Piper Sandler lifted their target price on shares of Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.59.

Exelixis Stock Performance

Shares of NASDAQ:EXEL opened at $37.01 on Thursday. The company has a market capitalization of $10.36 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The stock has a fifty day moving average of $35.69 and a 200-day moving average of $33.12. Exelixis has a one year low of $20.14 and a one year high of $40.02.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. As a group, research analysts forecast that Exelixis will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the transaction, the executive vice president now directly owns 303,310 shares of the company’s stock, valued at $11,216,403.80. The trade was a 14.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jack L. Wyszomierski sold 8,768 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $37.80, for a total value of $331,430.40. Following the completion of the sale, the director now directly owns 356,605 shares of the company’s stock, valued at $13,479,669. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,343 shares of company stock valued at $5,177,234. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several hedge funds have recently made changes to their positions in the stock. Tri Ri Asset Management Corp acquired a new position in Exelixis in the 3rd quarter valued at approximately $4,396,000. Blue Trust Inc. increased its position in shares of Exelixis by 134.7% during the fourth quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company’s stock valued at $476,000 after purchasing an additional 8,208 shares during the period. Range Financial Group LLC acquired a new position in shares of Exelixis in the fourth quarter valued at $994,000. FMR LLC raised its stake in shares of Exelixis by 6.1% in the third quarter. FMR LLC now owns 2,462,072 shares of the biotechnology company’s stock valued at $63,891,000 after purchasing an additional 140,568 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Exelixis by 82.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock worth $52,884,000 after purchasing an additional 704,786 shares during the period. Institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

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.