Exelixis (NASDAQ:EXEL) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Exelixis (NASDAQ:EXEL) from a buy rating to a strong-buy rating in a report issued on Wednesday.

EXEL has been the subject of a number of other research reports. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Exelixis in a report on Thursday, February 13th. Truist Financial boosted their price objective on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Guggenheim restated a “buy” rating and set a $42.00 price objective on shares of Exelixis in a report on Wednesday, February 12th. Piper Sandler boosted their price objective on Exelixis from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price objective on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.24.

Exelixis Stock Performance

Exelixis stock opened at $35.07 on Wednesday. Exelixis has a 52 week low of $20.14 and a 52 week high of $37.59. The stock has a market capitalization of $9.82 billion, a P/E ratio of 19.81, a PEG ratio of 1.13 and a beta of 0.53. The stock has a 50-day simple moving average of $34.16 and a 200 day simple moving average of $31.11.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Exelixis had a return on equity of 23.52% and a net margin of 24.04%. Research analysts forecast that Exelixis will post 2.04 earnings per share for the current year.

Insider Buying and Selling at Exelixis

In other news, Director Mary C. Beckerle sold 12,210 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $34.88, for a total transaction of $425,884.80. Following the completion of the transaction, the director now directly owns 30,406 shares in the company, valued at approximately $1,060,561.28. This represents a 28.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 10,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the transaction, the executive vice president now owns 278,665 shares of the company’s stock, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,210 shares of company stock worth $2,978,785 over the last three months. Corporate insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Coppell Advisory Solutions LLC acquired a new position in shares of Exelixis during the fourth quarter worth $25,000. Colonial Trust Co SC increased its holdings in shares of Exelixis by 616.9% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company’s stock worth $30,000 after buying an additional 765 shares in the last quarter. USA Financial Formulas acquired a new stake in Exelixis in the fourth quarter valued at $32,000. Principal Securities Inc. increased its holdings in Exelixis by 62.8% in the fourth quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 373 shares during the period. Finally, Kestra Investment Management LLC acquired a new stake in Exelixis in the fourth quarter valued at $39,000. 85.27% of the stock is currently 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.