Exelixis (NASDAQ:EXEL) Hits New 12-Month High – Still a Buy?

Exelixis, Inc. (NASDAQ:EXEL) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $34.89 and last traded at $34.85, with a volume of 572714 shares changing hands. The stock had previously closed at $34.29.

Analyst Upgrades and Downgrades

EXEL has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price target on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their target price on Exelixis from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. BMO Capital Markets increased their target price on shares of Exelixis from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. TD Cowen lifted their price objective on shares of Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Truist Financial boosted their price objective on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Stock Performance

The business’s 50-day moving average is $27.67 and its 200 day moving average is $24.56. The company has a market cap of $10.22 billion, a PE ratio of 22.76, a PEG ratio of 0.87 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same period in the previous year, the firm earned $0.10 EPS. The business’s quarterly revenue was up 14.3% on a year-over-year basis. Equities research analysts anticipate that Exelixis, Inc. will post 1.68 EPS for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, Director George Poste sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the transaction, the director now directly owns 169,020 shares of the company’s stock, valued at approximately $5,746,680. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Christopher J. Senner sold 125,000 shares of the business’s stock in a transaction that occurred 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 directly owns 721,680 shares of the company’s stock, valued at $19,622,479.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director George Poste sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the sale, the director now owns 169,020 shares in the company, valued at $5,746,680. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 305,295 shares of company stock valued at $8,831,001 over the last ninety days. 2.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Exelixis

Hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management lifted its position 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 valued at $65,844,000 after acquiring an additional 2,616,278 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Exelixis by 45.3% during the second quarter. Hsbc Holdings PLC now owns 90,211 shares of the biotechnology company’s stock valued at $2,031,000 after buying an additional 28,126 shares during the last quarter. Farallon Capital Management LLC increased its holdings in Exelixis by 1.6% in the 2nd quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after buying an additional 424,000 shares in the last quarter. Intech Investment Management LLC raised its position in Exelixis by 155.8% in the 1st quarter. Intech Investment Management LLC now owns 100,039 shares of the biotechnology company’s stock worth $2,374,000 after buying an additional 60,925 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Exelixis by 60.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock valued at $1,424,000 after acquiring an additional 20,641 shares during the period. 85.27% of the stock is 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.