Exelixis (NASDAQ:EXEL) Reaches New 1-Year High – Should You Buy?

Exelixis, Inc. (NASDAQ:EXEL) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $36.69 and last traded at $36.69, with a volume of 1061601 shares traded. The stock had previously closed at $35.61.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EXEL. Stifel Nicolaus lifted their price objective on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Guggenheim lifted their target price on Exelixis from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group assumed coverage on shares of Exelixis in a research report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Exelixis has an average rating of “Moderate Buy” and an average price target of $31.44.

Exelixis Stock Up 2.2 %

The company has a market capitalization of $10.39 billion, a PE ratio of 23.32, a PEG ratio of 0.90 and a beta of 0.51. The firm has a 50-day moving average of $30.08 and a two-hundred day moving average of $25.73.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. During the same period in the prior year, the firm posted $0.10 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. Equities analysts predict that Exelixis, Inc. will post 1.69 EPS for the current fiscal year.

Insider Activity

In other news, EVP Dana Aftab sold 96,986 shares of Exelixis stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $35.00, for a total transaction of $3,394,510.00. Following the completion of the transaction, the executive vice president now owns 498,945 shares of the company’s stock, valued at $17,463,075. The trade was a 16.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Haley sold 41,588 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the transaction, the executive vice president now owns 288,665 shares of the company’s stock, valued at $9,918,529.40. This trade represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 269,736 shares of company stock worth $8,955,710 in the last ninety days. Company insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Institutional investors and hedge funds have recently bought and sold shares of the stock. EntryPoint Capital LLC lifted its stake in shares of Exelixis by 537.2% during the first quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 1,746 shares during the period. Advisors Asset Management Inc. grew its stake in Exelixis by 35.6% in the 1st quarter. Advisors Asset Management Inc. now owns 21,014 shares of the biotechnology company’s stock worth $499,000 after acquiring an additional 5,513 shares during the period. Lazard Asset Management LLC raised its holdings in Exelixis by 26.6% in the 1st quarter. Lazard Asset Management LLC now owns 37,555 shares of the biotechnology company’s stock valued at $890,000 after acquiring an additional 7,891 shares during the last quarter. Redwood Investment Management LLC lifted its stake in shares of Exelixis by 8.3% during the 1st quarter. Redwood Investment Management LLC now owns 63,380 shares of the biotechnology company’s stock worth $1,504,000 after purchasing an additional 4,842 shares during the period. Finally, Tidal Investments LLC boosted its holdings in shares of Exelixis by 10.0% during the first quarter. Tidal Investments LLC now owns 9,710 shares of the biotechnology company’s stock worth $230,000 after purchasing an additional 886 shares during the last quarter. Hedge funds and other 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.