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

Exelixis, Inc. (NASDAQ:EXEL)’s stock price reached a new 52-week high on Monday . The company traded as high as $50.42 and last traded at $50.01, with a volume of 911924 shares traded. The stock had previously closed at $48.16.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EXEL shares. TD Cowen upped their target price on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research note on Thursday, January 22nd. Zacks Research cut shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Truist Financial upgraded shares of Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. Finally, Royal Bank Of Canada lowered their price objective on shares of Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.83.

Exelixis Stock Performance

The business’s fifty day simple moving average is $43.44 and its 200-day simple moving average is $42.97. The firm has a market capitalization of $12.49 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.03 and a beta of 0.38.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The firm had revenue of $610.81 million during the quarter, compared to the consensus estimate of $607.51 million. During the same quarter last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. Sell-side analysts expect that Exelixis, Inc. will post 3.11 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Dana Aftab sold 47,918 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the completion of the sale, the executive vice president directly owned 616,106 shares of the company’s stock, valued at approximately $27,416,717. The trade was a 7.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maria C. Freire sold 20,634 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $46.00, for a total transaction of $949,164.00. Following the sale, the director directly owned 100,819 shares of the company’s stock, valued at $4,637,674. This represents a 16.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 451,195 shares of company stock valued at $19,982,874. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Exelixis

A number of large investors have recently bought and sold shares of EXEL. Motiv8 Investments LLC acquired a new stake in Exelixis during the fourth quarter worth about $26,000. Richardson Financial Services Inc. lifted its position in shares of Exelixis by 95.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 292 shares in the last quarter. Anchor Investment Management LLC lifted its position in shares of Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 500 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of Exelixis during the 1st quarter valued at approximately $27,000. Finally, Acumen Wealth Advisors LLC purchased a new position in shares of Exelixis during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.