Exelixis, Inc. (NASDAQ:EXEL) Receives Average Rating of “Moderate Buy” from Brokerages

Exelixis, Inc. (NASDAQ:EXEL) has been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $27.43.

A number of brokerages have issued reports on EXEL. JMP Securities upped their price objective on shares of Exelixis from $27.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 7th. Stephens began coverage on shares of Exelixis in a research report on Tuesday, May 14th. They issued an “equal weight” rating and a $23.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Exelixis in a research report on Friday, May 3rd. Truist Financial reaffirmed a “buy” rating and issued a $33.00 price objective (up from $32.00) on shares of Exelixis in a research report on Thursday, August 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $27.00 price objective on shares of Exelixis in a research report on Wednesday, August 7th.

Insider Activity at Exelixis

In related news, CFO Christopher J. Senner sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the sale, the chief financial officer now directly owns 721,680 shares in the company, valued at approximately $19,622,479.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Exelixis news, Director George Poste sold 33,725 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $26.89, for a total value of $906,865.25. Following the sale, the director now directly owns 199,020 shares in the company, valued at approximately $5,351,647.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher J. Senner sold 125,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the completion of the sale, the chief financial officer now owns 721,680 shares in the company, valued at $19,622,479.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,698 shares of company stock worth $7,107,868. 2.85% of the stock is owned by corporate insiders.

Institutional Trading of Exelixis

Institutional investors and hedge funds have recently bought and sold shares of the company. Fisher Asset Management LLC lifted its stake in Exelixis by 232.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,041 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 728 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Exelixis in the 4th quarter worth approximately $27,000. Rise Advisors LLC purchased a new stake in Exelixis in the 1st quarter worth approximately $28,000. Park Place Capital Corp purchased a new stake in Exelixis in the 2nd quarter worth approximately $45,000. Finally, USA Financial Formulas lifted its stake in Exelixis by 1,548.0% in the 4th quarter. USA Financial Formulas now owns 2,060 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 1,935 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Price Performance

NASDAQ:EXEL opened at $26.93 on Thursday. Exelixis has a one year low of $18.64 and a one year high of $27.53. The firm has a 50-day moving average of $22.79 and a 200-day moving average of $22.35. The company has a market cap of $8.17 billion, a PE ratio of 42.08, a PEG ratio of 0.60 and a beta of 0.54.

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.