Exelixis (NASDAQ:EXEL) Rating Increased to Strong-Buy at Wall Street Zen

Exelixis (NASDAQ:EXEL) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Sunday.

A number of other research firms have also recently commented on EXEL. Barclays lifted their target price on Exelixis from $40.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Morgan Stanley boosted their price objective on Exelixis from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Guggenheim downgraded Exelixis from a “buy” rating to a “neutral” rating in a report on Monday, November 3rd. The Goldman Sachs Group began coverage on shares of Exelixis in a report on Wednesday, September 17th. They issued a “buy” rating and a $47.00 target price on the stock. Finally, HC Wainwright upped their price target on shares of Exelixis from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.45.

Exelixis Trading Down 1.2%

EXEL stock opened at $40.88 on Friday. The company’s 50 day moving average is $40.77 and its two-hundred day moving average is $40.81. Exelixis has a twelve month low of $31.90 and a twelve month high of $49.62. The stock has a market cap of $10.96 billion, a P/E ratio of 17.25, a PEG ratio of 0.74 and a beta of 0.40.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The firm had revenue of $597.76 million for the quarter, compared to the consensus estimate of $590.04 million. During the same period last year, the firm posted $0.47 EPS. The company’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts predict that Exelixis will post 2.04 earnings per share for the current year.

Insider Activity

In related news, EVP Patrick J. Haley sold 28,043 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $42.58, for a total value of $1,194,070.94. Following the completion of the sale, the executive vice president owned 374,029 shares in the company, valued at $15,926,154.82. This trade represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dana Aftab sold 48,383 shares of Exelixis stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total value of $2,056,277.50. Following the completion of the sale, the executive vice president directly owned 664,778 shares in the company, valued at $28,253,065. This represents a 6.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 245,235 shares of company stock worth $10,490,600 over the last quarter. Insiders own 2.82% of the company’s stock.

Institutional Trading of Exelixis

Several hedge funds have recently modified their holdings of the business. Richardson Financial Services Inc. boosted its stake in shares of Exelixis by 95.1% in the third 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 boosted 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 worth $25,000 after purchasing an additional 500 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Exelixis during the 3rd quarter worth $28,000. Byrne Asset Management LLC grew its stake in shares of Exelixis by 129.0% during the 2nd quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 400 shares during the period. Finally, Luminist Capital LLC increased its holdings in shares of Exelixis by 2,740.0% in the 2nd quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 685 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

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.