Exelixis’ (EXEL) “Buy” Rating Reiterated at HC Wainwright

by · The Markets Daily

Exelixis (NASDAQ:EXEL – Get Free Report)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $29.00 target price on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 5.07% from the company’s current price.

A number of other analysts also recently weighed in on the company. StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. Oppenheimer restated an “outperform” rating and issued a $29.00 price objective on shares of Exelixis in a report on Tuesday, July 30th. JMP Securities increased their target price on shares of Exelixis from $27.00 to $29.00 and gave the company a “market outperform” rating in a report on Wednesday, August 7th. Truist Financial reissued a “buy” rating and issued a $33.00 price target (up from $32.00) on shares of Exelixis in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $27.00 price objective on shares of Exelixis in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.50.

View Our Latest Analysis on EXEL

Exelixis Trading Up 0.5 %

Shares of Exelixis stock opened at $27.60 on Wednesday. The company’s 50-day moving average price is $24.83 and its 200-day moving average price is $23.23. Exelixis has a 12-month low of $18.64 and a 12-month high of $27.83. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 43.13, a PEG ratio of 0.58 and a beta of 0.54.

Exelixis (NASDAQ:EXEL – Get Free Report) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. The business had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. Exelixis had a return on equity of 15.54% and a net margin of 17.38%. On average, sell-side analysts predict that Exelixis will post 1.54 earnings per share for the current year.

Insider Activity

In related news, CFO Christopher J. Senner sold 125,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the sale, the chief financial officer now owns 721,680 shares of the company’s stock, valued at $19,622,479.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Christopher J. Senner sold 125,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the transaction, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at $19,622,479.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dana Aftab sold 95,000 shares of Exelixis 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 sale, the executive vice president now directly owns 520,990 shares in the company, valued at $13,024,750. The disclosure for this sale can be found here. Over the last three months, insiders have sold 302,858 shares of company stock valued at $7,980,629. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Exelixis

Hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC lifted its position in Exelixis by 232.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 728 shares during the period. Rise Advisors LLC purchased a new position in shares of Exelixis during the first quarter valued at approximately $28,000. Park Place Capital Corp bought a new stake in shares of Exelixis in the 2nd quarter worth approximately $45,000. GAMMA Investing LLC grew its stake in shares of Exelixis by 107.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,041 shares during the last quarter. Finally, EntryPoint Capital LLC increased its position in Exelixis by 537.2% during the 1st 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 in the last quarter. Institutional investors own 85.27% of the company’s stock.

About Exelixis

(Get Free Report)

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.

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