Exelixis (NASDAQ:EXEL) Receives “Equal Weight” Rating from Stephens

Exelixis (NASDAQ:EXEL)‘s stock had its “equal weight” rating reaffirmed by analysts at Stephens in a report released on Monday,Benzinga reports. They presently have a $29.00 target price on the biotechnology company’s stock. Stephens’ price target would indicate a potential downside of 12.89% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $41.00 price target on shares of Exelixis in a report on Thursday. Bank of America downgraded shares of Exelixis from a “buy” rating to a “neutral” rating and lifted their target price for the company from $35.00 to $39.00 in a report on Tuesday, December 17th. Piper Sandler increased their target price on shares of Exelixis from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Brookline Capital Management started coverage on shares of Exelixis in a report on Monday, December 23rd. They issued a “buy” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Exelixis in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exelixis has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Exelixis Stock Up 2.8 %

EXEL stock opened at $33.29 on Monday. The firm has a 50 day moving average of $34.87 and a 200 day moving average of $29.82. The stock has a market capitalization of $9.51 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. Exelixis has a 52 week low of $20.01 and a 52 week high of $37.59.

Exelixis (NASDAQ:EXEL) last posted its earnings results 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. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $490.31 million. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts expect that Exelixis will post 1.74 earnings per share for the current year.

Insider Activity at Exelixis

In other Exelixis news, EVP Dana Aftab sold 1,162 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $31.40, for a total transaction of $36,486.80. Following the completion of the sale, the executive vice president now directly owns 498,945 shares in the company, valued at approximately $15,666,873. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director George Poste sold 30,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the completion of the sale, the director now owns 169,020 shares of the company’s stock, valued at $5,746,680. This represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 289,736 shares of company stock valued at $10,139,360 over the last 90 days. 2.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exelixis

Several institutional investors have recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in shares of Exelixis in the 4th quarter valued at $32,000. V Square Quantitative Management LLC acquired a new stake in Exelixis in the third quarter worth about $30,000. UMB Bank n.a. lifted its position in Exelixis by 68.4% during the 4th quarter. UMB Bank n.a. now owns 1,361 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 553 shares during the period. Brooklyn Investment Group bought a new position in shares of Exelixis in the 3rd quarter valued at about $42,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Exelixis by 18.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after buying an additional 290 shares during the period. 85.27% of the stock is owned by institutional investors.

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.