BMO Capital Markets Begins Coverage on Exelixis (NASDAQ:EXEL)

Stock analysts at BMO Capital Markets started coverage on shares of Exelixis (NASDAQ:EXELGet Rating) in a research report issued on Thursday, The Fly reports. The firm set an “outperform” rating on the biotechnology company’s stock.

EXEL has been the topic of several other research reports. Jefferies Financial Group assumed coverage on Exelixis in a report on Thursday, May 12th. They issued a “buy” rating and a $28.00 price objective on the stock. StockNews.com downgraded Exelixis from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 18th. TheStreet upgraded Exelixis from a “c” rating to a “b-” rating in a report on Monday, February 28th. Finally, Piper Sandler cut their price target on Exelixis from $34.00 to $30.00 in a report on Monday, March 14th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $32.29.

Shares of EXEL stock traded up $1.14 on Thursday, hitting $21.33. The stock had a trading volume of 91,633 shares, compared to its average volume of 2,624,586. The firm has a market capitalization of $6.84 billion, a P/E ratio of 23.18, a P/E/G ratio of 0.58 and a beta of 0.76. Exelixis has a 1 year low of $15.50 and a 1 year high of $23.52. The company’s 50 day moving average price is $20.07 and its 200-day moving average price is $19.72.

Exelixis (NASDAQ:EXELGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.07. The firm had revenue of $356.00 million for the quarter, compared to the consensus estimate of $363.22 million. Exelixis had a return on equity of 13.77% and a net margin of 19.60%. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. Equities analysts forecast that Exelixis will post 0.89 earnings per share for the current fiscal year.

In related news, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of $22.43, for a total value of $224,300.00. Following the completion of the sale, the executive vice president now directly owns 269,191 shares of the company’s stock, valued at approximately $6,037,954.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Hessekiel sold 4,717 shares of the stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $22.00, for a total value of $103,774.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,225 shares of company stock valued at $1,610,649. Insiders own 2.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of EXEL. Point72 Asset Management L.P. lifted its position in Exelixis by 98.0% during the 4th quarter. Point72 Asset Management L.P. now owns 4,222,146 shares of the biotechnology company’s stock worth $77,181,000 after acquiring an additional 2,089,846 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Exelixis during the 3rd quarter worth approximately $38,838,000. Farallon Capital Management LLC raised its stake in shares of Exelixis by 18.7% during the 1st quarter. Farallon Capital Management LLC now owns 10,520,061 shares of the biotechnology company’s stock worth $238,490,000 after buying an additional 1,660,904 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Exelixis by 3,235.4% during the 1st quarter. American Century Companies Inc. now owns 1,706,245 shares of the biotechnology company’s stock worth $38,681,000 after buying an additional 1,655,090 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Exelixis by 140.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,790,979 shares of the biotechnology company’s stock worth $32,739,000 after buying an additional 1,047,159 shares in the last quarter. 82.74% of the stock is owned by institutional investors.

About Exelixis (Get Rating)

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include 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 patients with progressive and metastatic medullary thyroid cancer.

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