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

Exelixis (NASDAQ:EXEL)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $40.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 8.99% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus boosted their price target on Exelixis from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Oppenheimer lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $41.00 to $33.00 in a research note on Friday, January 24th. UBS Group increased their price objective on shares of Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Truist Financial boosted their target price on shares of Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Bank of America cut shares of Exelixis from a “buy” rating to a “neutral” rating and increased their price target for the stock from $35.00 to $39.00 in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

Exelixis Trading Down 0.4 %

EXEL stock opened at $36.70 on Thursday. The company has a market cap of $10.27 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The stock has a 50-day moving average price of $35.71 and a two-hundred day moving average price of $33.22. Exelixis has a 12-month low of $20.14 and a 12-month high of $40.02.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, February 11th. The biotechnology company reported $0.48 earnings per share (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%. Equities analysts forecast that Exelixis will post 2.04 EPS for the current fiscal year.

Insider Transactions at Exelixis

In other news, EVP Patrick J. Haley sold 52,636 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $36.98, for a total transaction of $1,946,479.28. Following the completion of the transaction, the executive vice president now owns 303,310 shares in the company, valued at approximately $11,216,403.80. This trade represents a 14.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jack L. Wyszomierski sold 8,768 shares of Exelixis stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $37.80, for a total transaction of $331,430.40. Following the completion of the transaction, the director now directly owns 356,605 shares in the company, valued at $13,479,669. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,343 shares of company stock valued at $5,177,234. Corporate insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Large investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB boosted its position in shares of Exelixis by 18.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,890 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 290 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Exelixis by 1.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 17,203 shares of the biotechnology company’s stock worth $573,000 after buying an additional 317 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Exelixis by 4.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,050 shares of the biotechnology company’s stock worth $235,000 after acquiring an additional 330 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Exelixis by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 58,159 shares of the biotechnology company’s stock valued at $1,937,000 after acquiring an additional 354 shares during the period. Finally, Principal Securities Inc. lifted its position in shares of Exelixis by 62.8% in the 4th quarter. Principal Securities Inc. now owns 967 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 373 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Exelixis Company Profile

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.