HC Wainwright Reiterates “Buy” Rating for Exelixis (NASDAQ:EXEL)

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued on Friday, Benzinga reports. They presently have a $28.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 27.85% from the stock’s previous close.

Several other research analysts have also recently commented on EXEL. Barclays cut Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a research note on Thursday, April 11th. Royal Bank of Canada boosted their price target on Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. TheStreet raised Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. Stifel Nicolaus upped their price objective on Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, February 2nd. Finally, William Blair restated an “outperform” rating on shares of Exelixis in a research note on Wednesday. Six research 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 company’s stock. According to MarketBeat, Exelixis has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

Exelixis Trading Down 1.0 %

Shares of EXEL traded down $0.22 during midday trading on Friday, reaching $21.90. 2,475,481 shares of the company were exchanged, compared to its average volume of 2,322,163. The stock has a 50-day moving average price of $22.97 and a 200-day moving average price of $22.22. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 34.22, a P/E/G ratio of 0.57 and a beta of 0.57. Exelixis has a 1-year low of $18.52 and a 1-year high of $24.34.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 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 during the quarter, compared to analyst estimates of $461.04 million. During the same quarter last year, the firm posted $0.12 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Exelixis will post 1.23 earnings per share for the current year.

Insider Activity at Exelixis

In related news, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly 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 news, Director David Edward Johnson purchased 190,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was purchased at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the purchase, the director now owns 1,100,730 shares in the company, valued at approximately $22,785,111. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan M. Garber sold 19,205 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the transaction, the director now directly owns 35,703 shares of the company’s stock, valued at $857,229.03. The disclosure for this sale can be found here. 2.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Exelixis

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Exelixis by 31.5% during 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 purchasing an additional 338,021 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Exelixis by 236.3% during 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 purchasing an additional 89,436 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Exelixis by 244.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 118,359 shares of the biotechnology company’s stock valued at $2,839,000 after purchasing an additional 83,999 shares in the last quarter. Advisors Preferred LLC bought a new position in Exelixis during the 4th quarter valued at $3,384,000. Finally, Seven Eight Capital LP boosted its stake in shares of Exelixis by 61.7% during the 3rd quarter. Seven Eight Capital LP now owns 21,765 shares of the biotechnology company’s stock worth $476,000 after acquiring an additional 8,305 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

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.