Exelixis, Inc. (NASDAQ:EXEL) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been given an average recommendation of “Moderate Buy” by the twenty research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $37.59.

A number of equities research analysts have issued reports on the company. Bank of America downgraded Exelixis from a “buy” rating to a “neutral” rating and boosted their price target for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. Brookline Capital Management initiated coverage on shares of Exelixis in a research report on Monday, December 23rd. They set a “buy” rating for the company. Piper Sandler lifted their price target on shares of Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Royal Bank of Canada increased their price objective on shares of Exelixis from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, March 13th. Finally, Stephens reaffirmed an “equal weight” rating and set a $29.00 price target on shares of Exelixis in a research report on Wednesday, February 12th.

Exelixis Trading Up 1.2 %

Shares of NASDAQ:EXEL opened at $35.74 on Tuesday. Exelixis has a 12-month low of $20.14 and a 12-month high of $40.02. The stock’s 50-day moving average price is $36.21 and its two-hundred day moving average price is $34.08. The firm has a market cap of $10.00 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.13 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 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 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In related news, EVP Patrick J. Haley sold 52,636 shares of Exelixis stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 303,310 shares in the company, valued at approximately $11,216,403.80. This trade represents a 14.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack L. Wyszomierski sold 8,768 shares of the company’s 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 sale, the director now owns 356,605 shares in the company, valued at $13,479,669. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,343 shares of company stock worth $5,177,234 in the last ninety days. 2.85% of the stock is owned by insiders.

Institutional Trading of Exelixis

Institutional investors have recently added to or reduced their stakes in the business. Tri Ri Asset Management Corp bought a new stake in shares of Exelixis during the 3rd quarter valued at about $4,396,000. Blue Trust Inc. raised its position in shares of Exelixis by 134.7% during the 4th quarter. Blue Trust Inc. now owns 14,302 shares of the biotechnology company’s stock worth $476,000 after purchasing an additional 8,208 shares during the period. Range Financial Group LLC bought a new stake in shares of Exelixis in the 4th quarter worth approximately $994,000. Allspring Global Investments Holdings LLC grew its stake in Exelixis by 82.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,562,790 shares of the biotechnology company’s stock worth $52,884,000 after buying an additional 704,786 shares during the last quarter. Finally, Inspire Investing LLC increased its position in Exelixis by 25.0% in the fourth quarter. Inspire Investing LLC now owns 36,659 shares of the biotechnology company’s stock worth $1,221,000 after buying an additional 7,331 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.