Exelixis (NASDAQ:EXEL) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Exelixis (NASDAQ:EXEL) in a research report released on Friday morning, Benzinga reports. They currently have a $28.00 price target on the biotechnology company’s stock.

Several other equities analysts also recently issued reports on the company. JMP Securities reiterated a market outperform rating and issued a $27.00 price objective on shares of Exelixis in a research report on Wednesday, April 10th. TD Cowen raised their price target on Exelixis from $25.00 to $27.00 and gave the company a buy rating in a report on Wednesday, May 1st. Stifel Nicolaus boosted their price objective on Exelixis from $23.00 to $25.00 and gave the stock a hold rating in a report on Friday, February 2nd. Barclays lowered shares of Exelixis from an overweight rating to an equal weight rating and set a $25.00 target price on the stock. in a research note on Thursday, April 11th. Finally, William Blair reissued an outperform rating on shares of Exelixis in a research note on Wednesday, May 1st. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Exelixis has an average rating of Moderate Buy and an average price target of $26.33.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $21.90 on Friday. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 0.59 and a beta of 0.57. The business’s fifty day moving average price is $22.98 and its two-hundred day moving average price is $22.23. Exelixis has a fifty-two week low of $18.52 and a fifty-two week high of $24.34.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). The firm had revenue of $425.23 million for the quarter, compared to analyst estimates of $461.04 million. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 EPS. Research analysts expect that Exelixis will post 1.17 EPS for the current fiscal year.

Insider Activity

In other Exelixis news, Director David Edward Johnson bought 190,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the acquisition, the director now owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the transaction, the executive vice president now owns 384,866 shares in the company, valued at approximately $8,255,375.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Edward Johnson acquired 190,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the acquisition, the director now directly owns 1,100,730 shares in the company, valued at $22,785,111. The disclosure for this purchase can be found here. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EXEL. Charles Schwab Investment Management Inc. lifted its position in Exelixis by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,364,480 shares of the biotechnology company’s stock worth $80,714,000 after purchasing an additional 28,840 shares during the period. First Trust Advisors LP raised its position in shares of Exelixis by 18.5% in the 4th quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock valued at $75,635,000 after buying an additional 492,613 shares in the last quarter. Norges Bank bought a new stake in shares of Exelixis during the 4th quarter worth approximately $73,449,000. FMR LLC boosted its position in shares of Exelixis by 9.3% during the 3rd quarter. FMR LLC now owns 2,884,424 shares of the biotechnology company’s stock worth $63,025,000 after acquiring an additional 246,605 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Exelixis by 948.3% in the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after acquiring an additional 2,220,150 shares during the last quarter. Institutional investors 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.