Exelixis, Inc. (NASDAQ:EXEL) Receives Average Rating of “Hold” from Analysts

Exelixis, Inc. (NASDAQ:EXEL) has been assigned an average rating of “Hold” from the twenty-three analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $46.9444.

A number of brokerages have commented on EXEL. UBS Group set a $41.00 price objective on Exelixis in a research report on Monday, January 5th. Citigroup downgraded Exelixis from a “market outperform” rating to an “underperform” rating in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Exelixis in a research note on Thursday, January 22nd. Zacks Research cut Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Finally, Bank of America lowered Exelixis from a “neutral” rating to an “underperform” rating and set a $41.00 price objective for the company. in a research report on Monday, January 5th.

Exelixis Trading Up 1.0%

Shares of NASDAQ EXEL opened at $41.95 on Tuesday. Exelixis has a 1-year low of $32.38 and a 1-year high of $49.62. The company has a 50-day moving average of $42.73 and a two-hundred day moving average of $42.01. The company has a market cap of $10.89 billion, a PE ratio of 15.14, a P/E/G ratio of 0.93 and a beta of 0.41.

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

Insider Activity at Exelixis

In related news, EVP Dana Aftab sold 47,918 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 616,106 shares of the company’s stock, valued at $27,416,717. The trade was a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Brenda Hefti sold 18,669 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total transaction of $821,622.69. Following the completion of the transaction, the senior vice president owned 96,512 shares in the company, valued at $4,247,493.12. This represents a 16.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 362,849 shares of company stock worth $15,917,463 over the last 90 days. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Motiv8 Investments LLC bought a new position in shares of Exelixis in the 4th quarter worth $26,000. Richardson Financial Services Inc. increased its holdings in 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 purchasing an additional 292 shares during the last quarter. Anchor Investment Management LLC lifted its stake in Exelixis by 500.0% in the third quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 500 shares during the period. Acumen Wealth Advisors LLC bought a new position in Exelixis during the fourth quarter worth about $29,000. Finally, Root Financial Partners LLC bought a new position in Exelixis during the third quarter worth about $28,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

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.