Exelixis (NASDAQ:EXEL) Stock Rating Lowered by Wall Street Zen

Exelixis (NASDAQ:EXEL) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Monday.

Several other analysts have also recently issued reports on EXEL. Zacks Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Oppenheimer restated a “market perform” rating and issued a $36.00 price target on shares of Exelixis in a research report on Wednesday, November 5th. Stifel Nicolaus increased their price target on Exelixis from $43.00 to $44.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. UBS Group set a $41.00 price objective on Exelixis in a research note on Monday, January 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a report on Thursday, January 22nd. One 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.11.

Exelixis Stock Performance

NASDAQ EXEL opened at $44.06 on Monday. The business has a fifty day moving average price of $44.09 and a 200 day moving average price of $41.48. Exelixis has a one year low of $32.38 and a one year high of $49.62. The company has a market cap of $11.44 billion, a P/E ratio of 15.91, a P/E/G ratio of 0.99 and a beta of 0.41.

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

Insider Buying and Selling

In related news, Director Jack L. Wyszomierski sold 99,574 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total value of $4,382,251.74. Following the sale, the director directly owned 279,942 shares in the company, valued at approximately $12,320,247.42. The trade was a 26.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dana Aftab sold 47,918 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $44.50, for a total transaction of $2,132,351.00. Following the completion of the transaction, the executive vice president directly owned 616,106 shares in the company, valued at $27,416,717. The trade was a 7.22% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 362,849 shares of company stock valued at $15,917,463. 2.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Exelixis

Institutional investors and hedge funds have recently made changes to their positions in the stock. Seven Fleet Capital Management LP acquired a new stake in shares of Exelixis in the fourth quarter valued at $3,005,000. Wick Capital Partners LLC purchased a new stake in Exelixis during the 4th quarter worth about $1,440,000. Van Diest Capital LLC acquired a new stake in Exelixis in the 4th quarter valued at about $340,000. Invesco Ltd. boosted its stake in shares of Exelixis by 1.6% in the 4th quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock valued at $265,379,000 after buying an additional 94,218 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Exelixis by 107.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 143,780 shares of the biotechnology company’s stock valued at $6,302,000 after buying an additional 74,360 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

About Exelixis

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.