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

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been given a consensus rating of “Hold” by the twenty analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $50.0667.

Several brokerages have commented on EXEL. HC Wainwright reaffirmed a “buy” rating and issued a $56.00 target price on shares of Exelixis in a research note on Thursday, July 2nd. Wall Street Zen lowered shares of Exelixis from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research cut shares of Exelixis from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Truist Financial dropped their price objective on Exelixis from $56.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, August 6th. Finally, Leerink Partners lowered Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 target price on the stock. in a report on Thursday, August 6th.

Insider Activity

In other Exelixis news, Director Sue Gail Eckhardt sold 9,812 shares of Exelixis stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $50.14, for a total value of $491,973.68. Following the transaction, the director owned 16,079 shares of the company’s stock, valued at approximately $806,201.06. The trade was a 37.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary C. Beckerle sold 9,812 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director owned 16,079 shares of the company’s stock, valued at $862,799.14. This trade represents a 37.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,549 shares of company stock worth $1,216,894 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Exelixis during the 2nd quarter worth about $1,581,991,000. California State Teachers Retirement System lifted its holdings in shares of Exelixis by 4,875.6% in the second quarter. California State Teachers Retirement System now owns 14,785,373 shares of the biotechnology company’s stock valued at $804,472,000 after purchasing an additional 14,488,217 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Exelixis by 48.8% in the fourth quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after purchasing an additional 4,477,029 shares in the last quarter. Invesco Ltd. boosted its position in shares of Exelixis by 1.6% during the fourth quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock worth $265,379,000 after buying an additional 94,218 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Exelixis by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock worth $184,391,000 after buying an additional 39,920 shares during the period. 85.27% of the stock is owned by institutional investors.

Exelixis Stock Down 1.5%

Shares of Exelixis stock opened at $55.26 on Friday. Exelixis has a 12 month low of $33.76 and a 12 month high of $57.57. The business has a fifty day simple moving average of $54.52 and a 200 day simple moving average of $48.96. The stock has a market cap of $13.69 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.67 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The company had revenue of $628.69 million during the quarter, compared to analysts’ expectations of $636.40 million. During the same period in the prior year, the business posted $0.75 EPS. Exelixis’s revenue was up 10.6% on a year-over-year basis. Analysts expect that Exelixis will post 3.18 EPS for the current fiscal 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.