Exelixis (NASDAQ:EXEL) Earns “Buy” Rating from HC Wainwright

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $40.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 14.29% from the company’s current price.

Other equities research analysts have also issued reports about the company. Brookline Capital Management started coverage on Exelixis in a report on Monday, December 23rd. They issued a “buy” rating for the company. Truist Financial upped their price target on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. JMP Securities reiterated a “market outperform” rating and set a $41.00 price target on shares of Exelixis in a report on Thursday, January 23rd. UBS Group upped their price target on Exelixis from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley upgraded Exelixis from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $30.00 to $40.00 in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Exelixis currently has a consensus rating of “Moderate Buy” and an average target price of $37.24.

Exelixis Stock Performance

EXEL opened at $35.00 on Thursday. The business has a 50 day moving average price of $34.19 and a 200 day moving average price of $30.83. Exelixis has a twelve month low of $20.14 and a twelve month high of $37.59. The firm has a market cap of $10.00 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. As a group, analysts anticipate that Exelixis will post 1.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the transaction, the executive vice president now owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. The trade was a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the transaction, the executive vice president now directly owns 486,059 shares in the company, valued at approximately $17,823,783.53. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,588 shares of company stock worth $3,981,864 over the last three months. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Institutional investors and hedge funds have recently bought and sold shares of the business. Coppell Advisory Solutions LLC acquired a new position in Exelixis in the fourth quarter worth $25,000. Principal Securities Inc. boosted its stake in Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 373 shares in the last quarter. USA Financial Formulas acquired a new position in Exelixis in the fourth quarter worth $32,000. V Square Quantitative Management LLC acquired a new position in Exelixis in the third quarter worth $30,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Exelixis during the fourth quarter valued at $39,000. Institutional investors and hedge funds 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.