Exelixis’ (EXEL) “Buy” Rating Reiterated at Guggenheim

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reiterated by stock analysts at Guggenheim in a report released on Wednesday,Benzinga reports. They presently have a $42.00 target price on the biotechnology company’s stock. Guggenheim’s target price points to a potential upside of 19.60% from the company’s previous close.

EXEL has been the topic of a number of other reports. TD Cowen upped their price target on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Piper Sandler boosted their price objective on Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 target price on shares of Exelixis in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Oppenheimer cut shares of Exelixis from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $41.00 to $33.00 in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

Exelixis Stock Up 7.0 %

Shares of EXEL stock traded up $2.31 during trading hours on Wednesday, reaching $35.12. 822,996 shares of the company’s stock were exchanged, compared to its average volume of 2,427,834. Exelixis has a fifty-two week low of $20.14 and a fifty-two week high of $37.59. The stock has a market capitalization of $10.03 billion, a P/E ratio of 22.58, a P/E/G ratio of 0.63 and a beta of 0.53. The business has a fifty day moving average price of $34.30 and a 200-day moving average price of $30.71.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). Exelixis had a return on equity of 20.99% and a net margin of 22.43%. As a group, research analysts expect that Exelixis will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 10,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the transaction, the executive vice president now owns 278,665 shares in the company, valued at $9,828,514.55. The trade was a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. The trade was a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,588 shares of company stock valued at $3,981,864 over the last 90 days. 2.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Hedge funds have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its stake in shares of Exelixis by 18.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 290 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Exelixis by 4.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company’s stock worth $235,000 after buying an additional 330 shares in the last quarter. Covestor Ltd raised its position in Exelixis by 5.7% in the 3rd quarter. Covestor Ltd now owns 6,335 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 341 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Exelixis by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 58,159 shares of the biotechnology company’s stock valued at $1,937,000 after acquiring an additional 354 shares in the last quarter. Finally, Principal Securities Inc. boosted its holdings in Exelixis by 62.8% during the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 373 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

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.