Exelixis (NASDAQ:EXEL) Hits New 12-Month High – Should You Buy?

Exelixis, Inc. (NASDAQ:EXEL) hit a new 52-week high on Monday. The company traded as high as $65.58 and last traded at $65.2550, with a volume of 152,200 shares changing hands. The stock had previously closed at $64.53.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Exelixis in a report on Monday, October 19th. Wells Fargo & Company lifted their price target on shares of Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, July 13th. Citizens Jmp increased their price objective on shares of Exelixis from $55.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Monday, October 19th. Royal Bank Of Canada lifted their target price on Exelixis from $45.00 to $51.00 and gave the company a “sector perform” rating in a research note on Friday, October 9th. Finally, Morgan Stanley boosted their price objective on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.50.

Exelixis Stock Up 0.4%

The firm has a fifty day simple moving average of $58.57 and a 200 day simple moving average of $50.57.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $628.69 million during the quarter, compared to analyst estimates of $636.40 million. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 EPS. Equities research analysts expect that Exelixis, Inc. will post 3.19 earnings per share for the current year.

Insider Transactions at Exelixis

In related news, Director Mary Beckerle sold 9,812 shares of Exelixis stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $53.66, for a total value of $526,511.92. Following the completion of the sale, the director directly owned 16,079 shares in the company, valued at $862,799.14. This trade represents a 37.90% 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Large investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. lifted its stake in Exelixis by 13.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 45,210 shares of the biotechnology company’s stock valued at $2,652,000 after buying an additional 5,207 shares during the period. Childress Capital Advisors LLC boosted its stake in Exelixis by 10.6% during the 3rd quarter. Childress Capital Advisors LLC now owns 5,471 shares of the biotechnology company’s stock worth $320,000 after acquiring an additional 526 shares during the last quarter. BOKF NA grew its holdings in Exelixis by 1.0% during the third quarter. BOKF NA now owns 55,757 shares of the biotechnology company’s stock valued at $3,257,000 after purchasing an additional 544 shares during the period. Motley Fool Asset Management LLC grew its holdings in Exelixis by 9.5% during the third quarter. Motley Fool Asset Management LLC now owns 9,539 shares of the biotechnology company’s stock valued at $557,000 after purchasing an additional 831 shares during the period. Finally, Laurel Wealth Advisors LLC bought a new stake in Exelixis in the third quarter valued at approximately $175,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

About Exelixis

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.