Exelixis (NASDAQ:EXEL) Now Covered by Brookline Capital Management

Brookline Capital Management began coverage on shares of Exelixis (NASDAQ:EXEL) in a research note published on Monday morning, MarketBeat.com reports. The firm issued a buy rating on the biotechnology company’s stock.

A number of other brokerages have also recently commented on EXEL. Morgan Stanley lifted their price objective on shares of Exelixis from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Stephens boosted their price objective on Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America downgraded Exelixis from a “buy” rating to a “neutral” rating and upped their price objective for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. UBS Group initiated coverage on Exelixis in a report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 target price for the company. Finally, Piper Sandler increased their price target on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.44.

Exelixis Trading Up 1.0 %

NASDAQ:EXEL opened at $33.82 on Monday. The company has a market capitalization of $9.66 billion, a P/E ratio of 21.68, a P/E/G ratio of 0.89 and a beta of 0.52. The business’s 50-day moving average is $33.85 and its 200 day moving average is $27.84. Exelixis has a 12 month low of $19.20 and a 12 month high of $36.97.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Exelixis had a return on equity of 20.99% and a net margin of 22.43%. The business had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $490.31 million. During the same period in the prior year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts forecast that Exelixis will post 1.69 earnings per share for the current year.

Insider Transactions at Exelixis

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $35.27, for a total transaction of $352,700.00. Following the transaction, the executive vice president now directly owns 278,665 shares in the company, valued at $9,828,514.55. This represents a 3.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 25,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.39, for a total transaction of $709,750.00. Following the completion of the sale, the executive vice president now owns 580,325 shares of the company’s stock, valued at approximately $16,475,426.75. This represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 314,736 shares of company stock valued at $10,849,110. 2.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Exelixis

Several institutional investors have recently bought and sold shares of EXEL. Covestor Ltd lifted its holdings in Exelixis by 5.7% during the third quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock worth $164,000 after buying an additional 341 shares during the period. Resonant Capital Advisors LLC raised its position in shares of Exelixis by 3.6% in the 2nd quarter. Resonant Capital Advisors LLC now owns 13,746 shares of the biotechnology company’s stock worth $309,000 after acquiring an additional 477 shares in the last quarter. Cornercap Investment Counsel Inc. lifted its stake in shares of Exelixis by 1.1% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 50,497 shares of the biotechnology company’s stock worth $1,135,000 after purchasing an additional 539 shares during the last quarter. Creative Planning boosted its position in Exelixis by 0.8% during the second quarter. Creative Planning now owns 71,700 shares of the biotechnology company’s stock valued at $1,611,000 after purchasing an additional 548 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Exelixis by 3.2% in the third quarter. Advisors Asset Management Inc. now owns 19,853 shares of the biotechnology company’s stock valued at $515,000 after purchasing an additional 609 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

About Exelixis

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.