Exelixis, Inc. (NASDAQ:EXEL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Exelixis, Inc. (NASDAQ:EXEL) have earned an average recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $31.88.

EXEL has been the topic of a number of research analyst reports. UBS Group assumed coverage on shares of Exelixis in a report on Thursday, September 19th. They set a “neutral” rating and a $30.00 price objective on the stock. Stephens raised their price target on shares of Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. TD Cowen upped their price objective on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Truist Financial lifted their target price on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 price target on shares of Exelixis in a research note on Wednesday, October 30th.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the transaction, the executive vice president now owns 278,665 shares in the company, valued at approximately $9,828,514.55. This represents a 3.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares in the company, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 339,736 shares of company stock valued at $11,508,610. Company insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of hedge funds and other institutional investors have recently bought and sold shares of EXEL. Covestor Ltd raised its holdings in shares of Exelixis by 5.7% in the third quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock valued at $164,000 after purchasing an additional 341 shares during the last quarter. Resonant Capital Advisors LLC increased its stake in Exelixis by 3.6% in the 2nd quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company’s stock valued at $309,000 after buying an additional 477 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its position in Exelixis by 1.1% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock worth $1,135,000 after buying an additional 539 shares in the last quarter. Creative Planning grew its holdings in shares of Exelixis by 0.8% in the 2nd quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock valued at $1,611,000 after acquiring an additional 548 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Exelixis by 3.2% in the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock valued at $515,000 after acquiring an additional 609 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Trading Down 3.8 %

NASDAQ EXEL opened at $34.69 on Wednesday. Exelixis has a 1-year low of $19.20 and a 1-year high of $36.97. The company has a 50 day moving average of $33.04 and a 200-day moving average of $27.38. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 0.89 and a beta of 0.52.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. On average, analysts forecast that Exelixis will post 1.69 earnings per share for the current year.

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.