Exelixis, Inc. (NASDAQ:EXEL) Receives Consensus Rating of “Hold” from Brokerages

Exelixis, Inc. (NASDAQ:EXELGet Free Report) has been given a consensus rating of “Hold” by the twenty-three ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $47.3529.

Several equities research analysts have weighed in on the company. Stifel Nicolaus boosted their price objective on Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. TD Cowen boosted their price objective on Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Barclays boosted their price objective on Exelixis from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley upped their target price on Exelixis from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th.

Get Our Latest Stock Analysis on EXEL

Insider Activity

In other news, EVP Patrick J. Haley sold 32,110 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the transaction, the executive vice president owned 357,638 shares of the company’s stock, valued at approximately $17,813,948.78. This represents a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Christopher J. Senner sold 34,901 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $50.00, for a total value of $1,745,050.00. Following the transaction, the chief financial officer directly owned 952,317 shares in the company, valued at approximately $47,615,850. This represents a 3.54% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 219,170 shares of company stock valued at $10,620,641. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Anchor Investment Management LLC grew its stake in shares of Exelixis by 500.0% during the third 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 last quarter. Motiv8 Investments LLC bought a new position in shares of Exelixis during the fourth quarter valued at approximately $26,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Exelixis during the first quarter valued at approximately $27,000. Western Wealth Management LLC bought a new position in Exelixis in the first quarter worth approximately $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in Exelixis in the fourth quarter worth approximately $29,000. Institutional investors own 85.27% of the company’s stock.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $53.13 on Friday. The business’s 50 day moving average is $47.98 and its two-hundred day moving average is $44.89. Exelixis has a 1-year low of $33.76 and a 1-year high of $53.93. The stock has a market capitalization of $13.35 billion, a P/E ratio of 17.65, a PEG ratio of 1.53 and a beta of 0.41.

Exelixis (NASDAQ:EXELGet Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The company had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities research analysts anticipate that Exelixis will post 3.16 earnings per share for the current fiscal year.

About Exelixis

(Get Free Report)

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.

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Analyst Recommendations for Exelixis (NASDAQ:EXEL)

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