Exelixis’ (EXEL) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research note issued to investors on Friday, Benzinga reports. The firm currently has a $28.00 target price on the biotechnology company’s stock.

Several other analysts have also commented on EXEL. Barclays lowered Exelixis from an overweight rating to an equal weight rating and set a $25.00 target price on the stock. in a report on Thursday, April 11th. TheStreet raised shares of Exelixis from a c+ rating to a b- rating in a report on Monday, March 18th. William Blair reissued an outperform rating on shares of Exelixis in a report on Wednesday, May 1st. Stifel Nicolaus lifted their price objective on shares of Exelixis from $23.00 to $25.00 and gave the company a hold rating in a report on Friday, February 2nd. Finally, JMP Securities reiterated a market outperform rating and issued a $27.00 price objective on shares of Exelixis in a research report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Exelixis currently has an average rating of Moderate Buy and an average target price of $26.33.

Exelixis Stock Performance

EXEL opened at $21.90 on Friday. Exelixis has a 12-month low of $18.52 and a 12-month high of $24.34. The firm has a 50 day moving average of $22.98 and a two-hundred day moving average of $22.23. The firm has a market capitalization of $6.38 billion, a PE ratio of 34.22, a P/E/G ratio of 0.59 and a beta of 0.57.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.16). Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The business had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. During the same period last year, the business earned $0.12 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts predict that Exelixis will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the sale, the director now owns 35,703 shares in the company, valued at approximately $857,229.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $24.01, for a total value of $461,112.05. Following the completion of the sale, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Patrick J. Haley sold 47,020 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was 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. 2.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Exelixis in the fourth quarter valued at $73,449,000. LSV Asset Management increased its position in shares of Exelixis by 1,651.4% during the 1st quarter. LSV Asset Management now owns 2,774,707 shares of the biotechnology company’s stock worth $65,844,000 after purchasing an additional 2,616,278 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Exelixis by 948.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after buying an additional 2,220,150 shares during the period. Acadian Asset Management LLC lifted its position in Exelixis by 1,043.9% in the third quarter. Acadian Asset Management LLC now owns 1,957,848 shares of the biotechnology company’s stock valued at $42,750,000 after buying an additional 1,786,687 shares during the last quarter. Finally, abrdn plc purchased a new position in Exelixis during the fourth quarter worth about $15,997,000. 85.27% of the stock is currently 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.