Exelixis, Inc. (NASDAQ:EXEL) Receives $45.74 Consensus PT from Brokerages

Shares of Exelixis, Inc. (NASDAQ:EXEL) have been given an average rating of “Moderate Buy” by the twenty-six research firms that are covering the company, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $45.7368.

Several research analysts have recently weighed in on EXEL shares. UBS Group boosted their price target on Exelixis from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Wells Fargo & Company reduced their price objective on Exelixis from $36.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Morgan Stanley upped their target price on shares of Exelixis from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Leerink Partners upgraded shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research note on Tuesday, October 21st. Finally, Leerink Partnrs raised shares of Exelixis from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st.

Insider Activity at Exelixis

In related news, Director Stelios Papadopoulos sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $43.55, for a total transaction of $4,355,000.00. Following the completion of the sale, the director owned 1,189,228 shares in the company, valued at approximately $51,790,879.40. This represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dana Aftab sold 48,383 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $42.50, for a total value of $2,056,277.50. Following the completion of the transaction, the executive vice president directly owned 664,778 shares in the company, valued at approximately $28,253,065. This represents a 6.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 245,235 shares of company stock worth $10,490,600. Company insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several hedge funds and other institutional investors have recently made changes to their positions in EXEL. Belpointe Asset Management LLC bought a new position in Exelixis during the 1st quarter valued at about $572,000. Fox Run Management L.L.C. purchased a new position in shares of Exelixis during the second quarter valued at approximately $321,000. D.A. Davidson & CO. bought a new position in shares of Exelixis during the second quarter valued at approximately $212,000. Capital Fund Management S.A. raised its holdings in shares of Exelixis by 6.6% in the second quarter. Capital Fund Management S.A. now owns 283,639 shares of the biotechnology company’s stock worth $12,501,000 after buying an additional 17,673 shares during the period. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Exelixis during the 1st quarter worth approximately $572,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Stock Performance

Shares of Exelixis stock opened at $46.61 on Friday. The company has a 50-day simple moving average of $41.40 and a two-hundred day simple moving average of $40.84. The stock has a market capitalization of $12.50 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 0.83 and a beta of 0.40. Exelixis has a 52-week low of $31.90 and a 52-week high of $49.62.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.10. The company had revenue of $597.76 million during the quarter, compared to the consensus estimate of $590.04 million. Exelixis had a net margin of 29.63% and a return on equity of 31.06%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 earnings per share. As a group, equities research analysts forecast that Exelixis will post 2.04 EPS for the current fiscal year.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.