Exelixis (NASDAQ:EXEL) Stock Rating Lowered by StockNews.com

Exelixis (NASDAQ:EXEL) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

Several other research firms have also recently weighed in on EXEL. JMP Securities restated a “market outperform” rating and issued a $41.00 price objective on shares of Exelixis in a research report on Thursday, January 23rd. Oppenheimer cut shares of Exelixis from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $41.00 to $33.00 in a research report on Friday, January 24th. HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Exelixis in a research report on Monday, January 27th. Bank of America cut shares of Exelixis from a “buy” rating to a “neutral” rating and upped their target price for the company from $35.00 to $39.00 in a research report on Tuesday, December 17th. Finally, Truist Financial upped their target price on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Exelixis Trading Down 0.0 %

NASDAQ EXEL opened at $32.80 on Tuesday. The stock’s 50 day moving average is $34.24 and its two-hundred day moving average is $30.72. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.63 and a beta of 0.53. Exelixis has a 1-year low of $20.14 and a 1-year high of $37.59.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a net margin of 22.43% and a return on equity of 20.99%. On average, analysts predict that Exelixis will post 1.74 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the transaction, the executive vice president now owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Haley sold 41,588 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the transaction, the executive vice president now directly owns 288,665 shares in the company, valued at approximately $9,918,529.40. This represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,588 shares of company stock worth $3,981,864 in the last three months. 2.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

A number of large investors have recently added to or reduced their stakes in the company. Seizert Capital Partners LLC lifted its position in Exelixis by 8.0% during the 3rd quarter. Seizert Capital Partners LLC now owns 469,940 shares of the biotechnology company’s stock valued at $12,195,000 after acquiring an additional 34,875 shares during the period. Los Angeles Capital Management LLC lifted its position in Exelixis by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,790,855 shares of the biotechnology company’s stock valued at $46,473,000 after acquiring an additional 991,494 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Exelixis by 60.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 54,863 shares of the biotechnology company’s stock valued at $1,424,000 after acquiring an additional 20,641 shares during the period. Tri Ri Asset Management Corp purchased a new position in Exelixis during the 3rd quarter valued at about $4,396,000. Finally, CWA Asset Management Group LLC purchased a new position in Exelixis during the 3rd quarter valued at about $577,000. 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.