Exelixis, Inc. (NASDAQ:EXEL) Given Consensus Rating of “Hold” by Brokerages

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been given an average recommendation of “Hold” by the twenty-three analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $46.9444.

Several equities research analysts have commented on the stock. Bank of America downgraded shares of Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 target price for the company. in a research note on Monday, January 5th. Morgan Stanley upped their target price on shares of Exelixis from $48.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, February 2nd. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Citigroup downgraded shares of Exelixis from a “market outperform” rating to an “underperform” rating in a research note on Monday, January 5th. Finally, Truist Financial raised shares of Exelixis to a “strong-buy” rating in a research note on Wednesday, March 25th.

Insider Transactions at Exelixis

In other news, EVP Dana Aftab sold 47,918 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total value of $2,132,351.00. Following the completion of the transaction, the executive vice president owned 616,106 shares in the company, valued at $27,416,717. This represents a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack L. Wyszomierski sold 99,574 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total transaction of $4,382,251.74. Following the completion of the transaction, the director owned 279,942 shares of the company’s stock, valued at $12,320,247.42. This trade represents a 26.24% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 362,849 shares of company stock valued at $15,917,463. Corporate insiders own 2.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. TriaGen Wealth Management LLC acquired a new position in shares of Exelixis in the third quarter valued at approximately $2,024,000. BridgePort Financial Solutions LLC acquired a new position in Exelixis during the third quarter worth $517,000. Candriam S.C.A. boosted its holdings in Exelixis by 18.4% during the third quarter. Candriam S.C.A. now owns 696,104 shares of the biotechnology company’s stock worth $28,749,000 after purchasing an additional 108,367 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Exelixis by 11.2% during the third quarter. Dimensional Fund Advisors LP now owns 4,180,912 shares of the biotechnology company’s stock worth $172,658,000 after purchasing an additional 419,596 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Exelixis by 153.3% during the third quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock worth $101,720,000 after purchasing an additional 1,490,520 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Price Performance

EXEL opened at $43.98 on Tuesday. Exelixis has a fifty-two week low of $32.38 and a fifty-two week high of $49.62. The company has a market cap of $11.42 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 0.98 and a beta of 0.42. The firm has a 50 day simple moving average of $42.69 and a 200 day simple moving average of $42.16.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.74 by $0.20. Exelixis had a net margin of 33.73% and a return on equity of 36.29%. The firm had revenue of $598.66 million during the quarter, compared to the consensus estimate of $609.17 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The business’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, analysts expect that Exelixis will post 2.04 EPS for the current year.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.