Exelixis’ (EXEL) “Buy” Rating Reiterated at Truist Financial

Truist Financial reissued their buy rating on shares of Exelixis (NASDAQ:EXEL) in a report published on Monday,Benzinga reports. They currently have a $55.00 price objective on the biotechnology company’s stock, up from their prior price objective of $43.00.

EXEL has been the subject of several other reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $47.00 price objective (up from $40.00) on shares of Exelixis in a report on Wednesday, May 14th. Bank of America lifted their price objective on Exelixis from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, June 5th. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 price objective (up from $40.00) on shares of Exelixis in a report on Thursday, June 12th. JMP Securities lifted their price objective on Exelixis from $47.00 to $50.00 and gave the company a “market outperform” rating in a report on Monday. Finally, Wall Street Zen cut Exelixis from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.82.

Exelixis Price Performance

EXEL opened at $43.53 on Monday. The company has a market capitalization of $11.87 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 0.92 and a beta of 0.28. The business has a fifty day simple moving average of $40.78 and a 200 day simple moving average of $37.21. Exelixis has a 1 year low of $21.82 and a 1 year high of $49.62.

Insider Activity

In related news, CMO Amy C. Peterson sold 72,776 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $45.47, for a total transaction of $3,309,124.72. Following the sale, the chief marketing officer now owns 465,393 shares in the company, valued at $21,161,419.71. This represents a 13.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dana Aftab sold 1,508 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $39.00, for a total value of $58,812.00. Following the sale, the executive vice president now owns 693,181 shares in the company, valued at approximately $27,034,059. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 458,113 shares of company stock valued at $21,024,817. Company insiders own 2.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC bought a new position in Exelixis in the fourth quarter worth approximately $25,000. Hemington Wealth Management boosted its holdings in Exelixis by 211.3% in the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 522 shares in the last quarter. Colonial Trust Co SC boosted its holdings in Exelixis by 616.9% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 765 shares in the last quarter. Principal Securities Inc. boosted its holdings in Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 373 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC bought a new position in Exelixis in the first quarter worth approximately $37,000. Institutional investors own 85.27% of the company’s stock.

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.