Exelixis, Inc. (EXEL) – What Are Investment Firms Thinking About This Stock?

Exelixis, Inc. (NASDAQ:EXEL) has been given an average rating of “Hold” by the eighteen brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $58.85.

EXEL has been the subject of a number of recent analyst reports. Barclays boosted their price objective on Exelixis from $49.00 to $54.00 and gave the company an “equal weight” rating in a report on Friday, October 30th. Leerink Partners boosted their target price on shares of Exelixis from $55.00 to $58.00 and gave the company a “market perform” rating in a research note on Thursday, November 5th. BMO Capital Markets reiterated a “market perform” rating and set a $60.00 price objective on shares of Exelixis in a report on Friday, October 30th. Zacks Research upgraded shares of Exelixis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 1st. Finally, TD Cowen raised their target price on shares of Exelixis from $55.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 30th.

Institutional Trading of Exelixis

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Exelixis in the 2nd quarter worth approximately $1,581,991,000. Dimensional Fund Advisors LP grew its stake in Exelixis by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock worth $184,391,000 after buying an additional 39,920 shares during the last quarter. Assetmark Inc. increased its position in Exelixis by 1.7% during the 1st quarter. Assetmark Inc. now owns 3,388,920 shares of the biotechnology company’s stock valued at $145,351,000 after buying an additional 58,149 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Exelixis by 21.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,427,976 shares of the biotechnology company’s stock valued at $140,677,000 after buying an additional 429,505 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Exelixis by 30.7% in the second quarter. Bank of America Corp DE now owns 2,149,397 shares of the biotechnology company’s stock worth $116,949,000 after acquiring an additional 504,660 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Stock Performance

NASDAQ:EXEL opened at $70.58 on Wednesday. The firm has a market capitalization of $17.22 billion, a PE ratio of 21.13, a PEG ratio of 1.85 and a beta of 0.45. Exelixis has a fifty-two week low of $39.71 and a fifty-two week high of $73.69. The stock’s fifty day moving average is $61.59 and its 200 day moving average is $51.84.

Exelixis (NASDAQ:EXEL) last released its earnings results on Thursday, October 29th. The biotechnology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. The firm had revenue of $658.70 million for the quarter, compared to analysts’ expectations of $646.51 million. Exelixis had a return on equity of 45.54% and a net margin of 35.45%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Equities analysts forecast that Exelixis will post 3.42 EPS for the current year.

Exelixis Company Profile

Exelixis, Inc. is a biotechnology company focused on discovering, developing and commercializing medicines for cancer. Founded in 1994 and headquartered in Alameda, California, the company has built its business around oncology treatments and continues to advance a pipeline of potential cancer therapies. Its principal marketed medicine is cabozantinib, sold in the United States as Cabometyx and Cometriq. Cabometyx is used to treat certain patients with advanced kidney, liver and thyroid cancers, while Cometriq is used for medullary thyroid cancer.