Exelixis (NASDAQ:EXEL) Stock Price Down 3.9%

Exelixis, Inc. (NASDAQ:EXEL) traded down 3.9% on Thursday . The stock traded as low as $22.63 and last traded at $22.76. 275,501 shares changed hands during trading, a decline of 88% from the average session volume of 2,274,160 shares. The stock had previously closed at $23.68.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays downgraded Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a report on Thursday. Royal Bank of Canada increased their price objective on Exelixis from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Citigroup began coverage on Exelixis in a report on Friday, December 15th. They issued a “buy” rating and a $31.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of Exelixis in a report on Friday, January 26th. Finally, TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.29.

Exelixis Stock Performance

The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 0.63 and a beta of 0.54. The business has a 50-day moving average of $22.30 and a 200-day moving average of $22.11.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. Exelixis had a return on equity of 8.57% and a net margin of 11.35%. The company had revenue of $479.65 million during the quarter, compared to analysts’ expectations of $481.23 million. On average, research analysts predict that Exelixis, Inc. will post 1.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Edward Johnson acquired 190,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the transaction, the director now owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Exelixis news, Director David Edward Johnson purchased 190,000 shares of Exelixis stock in a transaction dated Wednesday, February 21st. The stock was acquired at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the acquisition, the director now directly owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Patrick J. Haley sold 47,020 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.45, for a total value of $1,008,579.00. Following the completion of the sale, the executive vice president now directly owns 384,866 shares of the company’s stock, valued at $8,255,375.70. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Institutional Trading of Exelixis

Hedge funds have recently modified their holdings of the business. American Century Companies Inc. lifted its holdings in shares of Exelixis by 31.5% in the 3rd quarter. American Century Companies Inc. now owns 1,410,113 shares of the biotechnology company’s stock valued at $30,811,000 after buying an additional 338,021 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Exelixis by 236.3% in the 4th quarter. State of Alaska Department of Revenue now owns 127,287 shares of the biotechnology company’s stock valued at $3,053,000 after buying an additional 89,436 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Exelixis by 244.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 118,359 shares of the biotechnology company’s stock valued at $2,839,000 after buying an additional 83,999 shares during the period. Advisors Preferred LLC purchased a new position in Exelixis in the 4th quarter valued at approximately $3,384,000. Finally, Seven Eight Capital LP increased its stake in Exelixis by 61.7% in the 3rd quarter. Seven Eight Capital LP now owns 21,765 shares of the biotechnology company’s stock valued at $476,000 after purchasing an additional 8,305 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Exelixis Company Profile

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.