HC Wainwright Reiterates “Buy” Rating for Exelixis (NASDAQ:EXEL)

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Friday, Benzinga reports. They presently have a $28.00 target price on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential upside of 27.85% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada lifted their price objective on Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. TD Cowen increased their price objective on shares of Exelixis from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. Stifel Nicolaus upped their price target on shares of Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a report on Friday, February 2nd. Finally, William Blair reissued an “outperform” rating on shares of Exelixis in a research note on Wednesday. Six 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

Exelixis Price Performance

Shares of EXEL stock traded down $0.22 during trading hours on Friday, reaching $21.90. 2,475,481 shares of the company’s stock were exchanged, compared to its average volume of 2,224,510. The company’s 50 day moving average is $22.98 and its two-hundred day moving average is $22.23. The company has a market cap of $6.38 billion, a P/E ratio of 34.22, a price-to-earnings-growth ratio of 0.56 and a beta of 0.57. Exelixis has a 1 year low of $18.52 and a 1 year high of $24.34.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.16). The company had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. Exelixis’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 earnings per share. As a group, analysts predict that Exelixis will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling at Exelixis

In other news, EVP Patrick J. Haley sold 47,020 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the transaction, the executive vice president now directly owns 384,866 shares in the company, valued at approximately $8,255,375.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director David Edward Johnson acquired 190,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was bought at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the purchase, the director now directly owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Patrick J. Haley sold 47,020 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 384,866 shares of the company’s stock, 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 Investors Weigh In On Exelixis

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its position in Exelixis by 4.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 120,479 shares of the biotechnology company’s stock worth $2,632,000 after purchasing an additional 4,639 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Exelixis by 432.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 22,853 shares of the biotechnology company’s stock valued at $499,000 after acquiring an additional 18,560 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Exelixis by 2.7% during the 3rd quarter. New York State Teachers Retirement System now owns 410,760 shares of the biotechnology company’s stock valued at $8,975,000 after acquiring an additional 10,719 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Exelixis by 6.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,246 shares of the biotechnology company’s stock worth $1,207,000 after purchasing an additional 3,241 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Exelixis by 13.2% in the 3rd quarter. Mackenzie Financial Corp now owns 216,586 shares of the biotechnology company’s stock valued at $4,739,000 after purchasing an additional 25,293 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.