Exelixis (NASDAQ:EXEL) Upgraded to “Strong-Buy” at Wall Street Zen

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

Other equities analysts have also recently issued research reports about the stock. UBS Group set a $41.00 price target on shares of Exelixis in a research note on Monday, January 5th. Citigroup cut shares of Exelixis from a “market outperform” rating to an “underperform” rating in a research report on Monday, January 5th. Oppenheimer reiterated a “market perform” rating and issued a $36.00 target price on shares of Exelixis in a research report on Wednesday, November 5th. Barclays raised their price target on Exelixis from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 4th. Finally, Zacks Research raised Exelixis from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $47.11.

Exelixis Stock Down 1.2%

Shares of NASDAQ EXEL opened at $43.63 on Friday. The stock’s 50-day simple moving average is $43.88 and its two-hundred day simple moving average is $41.22. Exelixis has a twelve month low of $32.38 and a twelve month high of $49.62. The firm has a market capitalization of $11.33 billion, a P/E ratio of 15.75, a P/E/G ratio of 0.98 and a beta of 0.42.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The firm had revenue of $598.66 million during the quarter, compared to the consensus estimate of $609.17 million. During the same quarter last year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts anticipate that Exelixis will post 2.04 EPS for the current fiscal year.

Insider Transactions at Exelixis

In other Exelixis news, SVP Brenda Hefti sold 18,669 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $44.01, for a total value of $821,622.69. Following the completion of the sale, the senior vice president owned 96,512 shares in the company, valued at approximately $4,247,493.12. The trade was a 16.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bob Oliver sold 30,250 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $43.81, for a total transaction of $1,325,252.50. Following the completion of the transaction, the director owned 21,120 shares in the company, valued at $925,267.20. This represents a 58.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 285,058 shares of company stock valued at $12,460,245. Insiders own 2.82% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of hedge funds have recently modified their holdings of EXEL. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Exelixis by 0.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 102,581 shares of the biotechnology company’s stock worth $4,521,000 after purchasing an additional 274 shares during the period. Richardson Financial Services Inc. raised its position in Exelixis by 95.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. RHS Financial LLC lifted its holdings in Exelixis by 2.4% in the 4th quarter. RHS Financial LLC now owns 12,619 shares of the biotechnology company’s stock worth $553,000 after buying an additional 293 shares during the period. Meeder Advisory Services Inc. grew its position in shares of Exelixis by 5.8% in the 4th quarter. Meeder Advisory Services Inc. now owns 5,406 shares of the biotechnology company’s stock worth $237,000 after buying an additional 298 shares during the last quarter. Finally, Cim LLC grew its position in shares of Exelixis by 0.9% in the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after buying an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

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.