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

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $40.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 23.53% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Guggenheim reissued a “buy” rating on shares of Exelixis in a research note on Wednesday, January 22nd. Stifel Nicolaus lifted their price objective on shares of Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group raised shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Piper Sandler lifted their price target on Exelixis from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, TD Cowen boosted their price target on Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Exelixis presently has an average rating of “Moderate Buy” and a consensus price target of $35.75.

Exelixis Stock Down 5.1 %

Shares of NASDAQ:EXEL opened at $32.38 on Monday. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 0.72 and a beta of 0.53. Exelixis has a 12 month low of $20.01 and a 12 month high of $37.59. The company’s fifty day simple moving average is $34.87 and its 200 day simple moving average is $29.82.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same quarter last year, the firm earned $0.10 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. Research analysts expect that Exelixis will post 1.74 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Dana Aftab sold 1,162 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $31.40, for a total value of $36,486.80. Following the sale, the executive vice president now directly owns 498,945 shares of the company’s stock, valued at approximately $15,666,873. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey Hessekiel sold 50,000 shares of Exelixis stock in a transaction on Friday, November 1st. The stock was sold at an average price of $34.13, for a total transaction of $1,706,500.00. Following the transaction, the executive vice president now directly owns 530,325 shares of the company’s stock, valued at $18,099,992.25. This represents a 8.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 289,736 shares of company stock valued at $10,139,360 over the last quarter. 2.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Longboard Asset Management LP bought a new stake in Exelixis in the fourth quarter valued at $245,000. Spire Wealth Management raised its stake in Exelixis by 49.9% during the 4th quarter. Spire Wealth Management now owns 9,010 shares of the biotechnology company’s stock worth $300,000 after buying an additional 3,000 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Exelixis by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 60,553 shares of the biotechnology company’s stock worth $2,016,000 after acquiring an additional 5,690 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in Exelixis in the fourth quarter valued at approximately $247,000. Finally, Milestone Asset Management LLC increased its holdings in shares of Exelixis by 21.6% during the fourth quarter. Milestone Asset Management LLC now owns 32,777 shares of the biotechnology company’s stock valued at $1,091,000 after acquiring an additional 5,828 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

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.