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

HC Wainwright reissued their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research report sent to investors on Friday, Benzinga reports. They currently have a $28.00 price objective on the biotechnology company’s stock.

A number of other equities analysts also recently commented on EXEL. JMP Securities reiterated a market outperform rating and issued a $27.00 target price on shares of Exelixis in a report on Wednesday, April 10th. William Blair restated an outperform rating on shares of Exelixis in a report on Wednesday. TheStreet raised shares of Exelixis from a c+ rating to a b- rating in a research report on Monday, March 18th. Barclays cut shares of Exelixis from an overweight rating to an equal weight rating and set a $25.00 price target for the company. in a report on Thursday, April 11th. Finally, TD Cowen boosted their price objective on shares of Exelixis from $25.00 to $27.00 and gave the company a buy rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Exelixis currently has an average rating of Moderate Buy and an average price target of $26.33.

Exelixis Trading Down 1.0 %

Shares of Exelixis stock traded down $0.22 during trading on Friday, hitting $21.90. 2,475,481 shares of the stock traded hands, compared to its average volume of 2,224,510. The stock’s fifty day simple moving average is $22.98 and its 200 day simple moving average is $22.22. The firm has a market cap of $6.38 billion, a P/E ratio of 34.22, a price-to-earnings-growth ratio of 0.57 and a beta of 0.57. Exelixis has a 52-week low of $18.52 and a 52-week high of $24.34.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The business had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. During the same period last year, the business posted $0.12 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts expect that Exelixis will post 1.22 EPS for the current year.

Insiders Place Their Bets

In other news, Director David Edward Johnson purchased 190,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the purchase, the director now directly owns 1,100,730 shares of the company’s stock, valued at approximately $22,785,111. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Exelixis news, Director David Edward Johnson acquired 190,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average price of $20.70 per share, for a total transaction of $3,933,000.00. Following the acquisition, the director now owns 1,100,730 shares in the company, valued at $22,785,111. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Haley sold 47,020 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total value of $1,008,579.00. Following the transaction, the executive vice president now owns 384,866 shares in the company, valued at $8,255,375.70. The disclosure for this sale can be found here. 2.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EXEL. Charles Schwab Investment Management Inc. increased its holdings in shares of Exelixis by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,364,480 shares of the biotechnology company’s stock worth $80,714,000 after buying an additional 28,840 shares during the last quarter. First Trust Advisors LP increased its position in shares of Exelixis by 18.5% during the 4th quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock worth $75,635,000 after purchasing an additional 492,613 shares during the last quarter. Norges Bank purchased a new stake in Exelixis in the 4th quarter valued at about $73,449,000. FMR LLC lifted its position in Exelixis by 9.3% in the third quarter. FMR LLC now owns 2,884,424 shares of the biotechnology company’s stock valued at $63,025,000 after buying an additional 246,605 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Exelixis by 948.3% during the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after acquiring an additional 2,220,150 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.