Exelixis’ (EXEL) “Buy” Rating Reaffirmed at Truist Financial

Truist Financial reissued their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a $33.00 price target on the biotechnology company’s stock, up from their prior price target of $32.00.

Several other analysts have also issued reports on EXEL. Stephens began coverage on shares of Exelixis in a research report on Tuesday, May 14th. They set an equal weight rating and a $23.00 price target on the stock. Barclays downgraded shares of Exelixis from an overweight rating to an equal weight rating and set a $25.00 price target for the company. in a research note on Thursday, April 11th. William Blair reiterated an outperform rating on shares of Exelixis in a research report on Wednesday, May 1st. Oppenheimer reiterated an outperform rating and set a $29.00 price objective on shares of Exelixis in a research report on Tuesday, July 30th. Finally, StockNews.com upgraded shares of Exelixis from a buy rating to a strong-buy rating in a report on Saturday, July 13th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $27.43.

Exelixis Stock Performance

Shares of EXEL opened at $26.97 on Thursday. Exelixis has a 52 week low of $18.64 and a 52 week high of $27.53. The firm has a market cap of $8.18 billion, a P/E ratio of 42.14, a price-to-earnings-growth ratio of 0.60 and a beta of 0.54. The firm’s 50-day simple moving average is $22.69 and its 200 day simple moving average is $22.31.

Insider Transactions at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total transaction of $3,398,750.00. Following the sale, the chief financial officer now owns 721,680 shares in the company, valued at approximately $19,622,479.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Jack L. Wyszomierski sold 8,287 shares of Exelixis stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $22.00, for a total transaction of $182,314.00. Following the completion of the sale, the director now directly owns 349,499 shares in the company, valued at $7,688,978. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Christopher J. Senner sold 125,000 shares of Exelixis stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.19, for a total value of $3,398,750.00. Following the sale, the chief financial officer now owns 721,680 shares of the company’s stock, valued at $19,622,479.20. The disclosure for this sale can be found here. Insiders have sold 239,973 shares of company stock worth $6,201,003 in the last quarter. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of large investors have recently added to or reduced their stakes in EXEL. LSV Asset Management increased its holdings in Exelixis by 1,651.4% in the 1st quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock worth $65,844,000 after buying an additional 2,616,278 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Exelixis by 948.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after purchasing an additional 2,220,150 shares during the period. NewEdge Wealth LLC grew its stake in shares of Exelixis by 45.4% during the 4th quarter. NewEdge Wealth LLC now owns 681,104 shares of the biotechnology company’s stock worth $16,340,000 after purchasing an additional 212,553 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Exelixis by 2.5% during the 4th quarter. Russell Investments Group Ltd. now owns 1,513,591 shares of the biotechnology company’s stock worth $36,314,000 after purchasing an additional 37,438 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Exelixis by 88.7% during the 4th quarter. BNP Paribas Financial Markets now owns 450,097 shares of the biotechnology company’s stock worth $10,798,000 after purchasing an additional 211,555 shares during the period. 85.27% of the stock is currently owned by institutional investors.

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.