Exelixis (NASDAQ:EXEL) Sets New 1-Year High – Time to Buy?

Exelixis, Inc. (NASDAQ:EXEL)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $39.30 and last traded at $38.55, with a volume of 3791864 shares trading hands. The stock had previously closed at $38.69.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Brookline Capital Management began coverage on Exelixis in a research report on Monday, December 23rd. They set a “buy” rating on the stock. Oppenheimer cut Exelixis from an “outperform” rating to a “market perform” rating and cut their target price for the company from $41.00 to $33.00 in a research note on Friday, January 24th. Truist Financial increased their price objective on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Stephens reaffirmed an “equal weight” rating and set a $29.00 target price on shares of Exelixis in a research note on Wednesday, February 12th. Finally, StockNews.com upgraded Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Exelixis currently has an average rating of “Moderate Buy” and a consensus target price of $37.24.

Exelixis Trading Down 0.4 %

The business’s fifty day moving average is $34.63 and its 200 day moving average is $31.78. The firm has a market capitalization of $10.79 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.13 and a beta of 0.53.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 24.04% and a return on equity of 23.52%. As a group, sell-side analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, Director Jack L. Wyszomierski sold 8,768 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $37.80, for a total value of $331,430.40. Following the completion of the sale, the director now owns 356,605 shares of the company’s stock, valued at $13,479,669. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick J. Haley sold 52,636 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $36.98, for a total value of $1,946,479.28. Following the completion of the sale, the executive vice president now owns 303,310 shares of the company’s stock, valued at approximately $11,216,403.80. This trade represents a 14.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,343 shares of company stock worth $4,789,234. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Coppell Advisory Solutions LLC bought a new stake in shares of Exelixis in the fourth quarter valued at approximately $25,000. Colonial Trust Co SC boosted its stake in Exelixis by 616.9% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after buying an additional 765 shares in the last quarter. Principal Securities Inc. increased its holdings in Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 373 shares during the period. USA Financial Formulas acquired a new position in shares of Exelixis in the 4th quarter valued at $32,000. Finally, Kestra Investment Management LLC bought a new position in shares of Exelixis during the 4th quarter worth about $39,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

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.