Exelixis (NASDAQ:EXEL) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Exelixis (NASDAQ:EXEL) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $27.00 target price on the biotechnology company’s stock.

Several other equities analysts have also recently issued reports on the company. Oppenheimer reissued an outperform rating and set a $29.00 target price on shares of Exelixis in a research note on Tuesday, July 30th. JMP Securities reaffirmed a market outperform rating and issued a $29.00 price target on shares of Exelixis in a research note on Friday, September 20th. HC Wainwright restated a buy rating and set a $29.00 target price on shares of Exelixis in a report on Wednesday, September 18th. StockNews.com upgraded shares of Exelixis from a buy rating to a strong-buy rating in a research note on Saturday, July 13th. Finally, Truist Financial reissued a buy rating and issued a $33.00 price target (up from $32.00) on shares of Exelixis in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $27.67.

Exelixis Trading Down 1.1 %

Shares of NASDAQ:EXEL opened at $25.96 on Thursday. The stock’s 50-day moving average price is $25.56 and its 200-day moving average price is $23.48. Exelixis has a 12-month low of $18.64 and a 12-month high of $27.83. The stock has a market capitalization of $7.87 billion, a P/E ratio of 40.56, a price-to-earnings-growth ratio of 0.56 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The business had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. As a group, research analysts predict that Exelixis will post 1.59 EPS for the current year.

Insider Activity

In other Exelixis news, EVP Dana Aftab sold 95,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the transaction, the executive vice president now directly owns 520,990 shares in the company, valued at $13,024,750. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the sale, the executive vice president now owns 520,990 shares of the company’s stock, valued at approximately $13,024,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Senner sold 125,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the sale, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at $19,622,479.20. The disclosure for this sale can be found here. Insiders have sold a total of 327,858 shares of company stock valued at $8,640,129 in the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Several hedge funds have recently modified their holdings of EXEL. LSV Asset Management lifted its position in Exelixis by 107.7% in the second quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock worth $129,511,000 after buying an additional 2,989,021 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Exelixis by 948.3% in the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after acquiring an additional 2,220,150 shares during the period. Jupiter Asset Management Ltd. boosted its stake in shares of Exelixis by 148.2% during the first quarter. Jupiter Asset Management Ltd. now owns 2,267,894 shares of the biotechnology company’s stock valued at $53,817,000 after purchasing an additional 1,354,062 shares in the last quarter. Swedbank AB bought a new stake in Exelixis during the 1st quarter valued at $22,455,000. Finally, First Trust Advisors LP grew its stake in Exelixis by 18.5% in the fourth quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock valued at $75,635,000 after purchasing an additional 492,613 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

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.